Markel Ventures Inc. and Eagle Construction of VA LLC announced that Markel has acquired Eagle Construction and its affiliated entities. The terms of the transaction were not disclosed.
Markel Ventures is a Markel Corp. subsidiary that invests in businesses outside of the specialty insurance marketplace.
Founded in 1984 by Bryan Kornblau and Bud Ohly, Eagle Construction mostly engages in the construction of single family residential homes in Virginia. Through its subsidiaries Eagle Realty, Eagle Commercial Construction and NAI Eagle, the Glen Allen, Va.-based Eagle Construction also provides residential realty, commercial construction and commercial realty services.
This transaction marks the second investment Markel has made into Eagle’s platform. Markel|Eagle Partners, a real estate asset manager in the region, is a joint venture formed between Markel and principals of Eagle in 2010.
Eagle will be the fourteenth company in the Markel Ventures family of companies. Consistent with all previous Markel Ventures transactions, Eagle’s current leadership team and associates will remain in place.
Source: Markel Ventures Inc.
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