Markel Corporation and VSC Fire & Security Inc. have entered into a definitive agreement for Markel to acquire VSC. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2019. Additional terms were not disclosed.
VSC is a provider of comprehensive fire protection, life safety and low voltage solutions to retailers, commercial campuses, healthcare facilities and government properties throughout the southeast U.S. Established in 1958 in Ashland, Va., as Virginia Sprinkler Company, VSC was initially managed from the family home of co-founder Roland C. Giles. Since then, VSC has grown to employ more than 1,200 people across 21 offices in nine states and the District of Columbia.
Markel is a diverse financial holding company serving a variety of niche markets. The company’s principal business markets and underwrites specialty insurance products. Markel, through its subsidiary Markel Ventures, makes long-term investments in businesses that operate outside of the insurance marketplace.
Source: Markel Corporation
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