Last week, Markel Ventures Inc., a wholly owned subsidiary of
insurance holding company,
) acquired Virginia based homebuilding company, Eagle
Construction and its affiliated entities.
EMC INSURANCE (EMCI): Free Stock Analysis
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The acquisition of Eagle Construction represents the second
investment made by Markel Ventures with the Eagle Companies.
Markel has been associated with The Eagle Companies since 2010
through a joint venture -Markel|Eagle Partners. Markel|Eagle
Partners is a real estate asset manager in Virginia. The Eagle
Companies have decades of experience in construction,
development, leasing and asset management in the mid-Atlantic
region. The solid performance and prospects of Eagle influenced
Markel to acquire the company as part of its investment strategy.
To enhance the long-term financial performance of Markel
Corporation, Markel Ventures engages in strategic investments in
businesses other than specialty insurers. Markel Ventures
acquires these entities without making any changes to its
operations and management. With the acquisition, Eagle will
become the fourteenth company in Markel Ventures' portfolio.
To mention one of its recent acquisition endeavors, Markel
acquired Alterra Capital Holdings Limited on May 1, 2013,
pursuant to the merger agreement on Dec 18, 2012. Markel's
continuous acquisitions and mergers have in a way helped the
company improve its revenues. Earlier this month, it reported its
second quarter 2013 results that represented a 48.8% revenue
Markel currently carries a Zacks Rank #3 (Hold). Among other
EMC Insurance Group Inc.
Everest Re Group Ltd
Global Indemnity Plc
) carry a favorable Zacks Rank #1 (Strong Buy) and appear