Markel Ventures Acquires Ellicott Dredges
"This is an excellent fit for us at Ellicott," said Peter Bowe, president of Ellicott, which serves clients in dozens of countries around the world. "We intend to continue our growth both organically and through acquisitions, as we have in the past. Markel will be a good long-term partner in our infrastructure-oriented businesses."
As part of the transaction, BB&T Bank extended an expanded working capital line to Ellicott, which has no debt on its balance sheet.