Global re/insurer Markel Group Inc. and Valor Environmental have entered into a definitive agreement for Markel Group to acquire a majority interest in Valor and its related operating companies.
The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2024.
Additional terms of the transaction were not disclosed.
For those who are not aware, Valor is an environmental services company that provides erosion control and related services to commercial development sites and homebuilders throughout the U.S.
Today, the company operates with a team that consists of over 700 staff, serving over 2,000 customers.
Kirk Foster, Valor’s President, commented: “We are thrilled to partner with Markel Group. This permanent home enables Valor to continue making the best long-term decisions for our customers and employees. Our relentless focus on local customer service has gotten us here, and we are energized for the significant growth opportunities in front of us.”
Tom Gayner, CEO, Markel Group, said: “When land is developed, Mother Nature has a way of moving dirt, water, and everything that comes with it to places we don’t want it to go. Luckily, our partners at Valor work every day to help their customers avoid unnecessary environmental impact and costly project delays. Valor takes our Ventures family to twenty companies in nearly twenty years – a point in our journey worth celebrating.”
Earlier this year, Markel Group announced the transition of Mike Heaton to Executive Vice President and Chief Operating Officer (COO).
