Markel Ventures, a wholly owned subsidiary of Markel Corp., has acquired a majority stake in Havco Wood Products, a provider of composite wood flooring for the trucking industry. Markel Corp. is a financial holding company.
“Our new partnership with Markel is an important next step for Havco, our customers, and our employees,” said Bruce Bader, president & CEO of Havco. “With their support, we will have a permanent foundation upon which we can continue to be the premier provider of wood and composite flooring to the transportation industry.”
Havco is set to formally introduce its Fusion Floor in the coming weeks, Bader said.
The structure of Havco will not change, with Jim Vangilder retaining his ownership position and continuing to serve on the board of directors, and Bruce Bader and the rest of the Havco management team continuing in their current roles in the company.
“Havco is a wonderful addition and a great fit for Markel Ventures,” said Thomas S. Gayner, president of Markel Ventures. “They have an outstanding management team and a long history of providing top quality, high durability flooring for tractor trailers. We have given them a home where they can continue to do so.”
Havco is headquartered in Cape Girardeau, MO.