Markel Corporation announced today that its portfolio company Ellicott Dredge Enterprises, through its subsidiary Rohr International Dredge, has acquired IDRECO GmbH, a manufacturer of dredges.
IDRECO manufactures deep digging electrical suction and cutter suction dredges serving primarily the sand and gravel and mining sectors. The company is based in Heerenberg, The Netherlands (www.idreco.nl).
Rohr International Dredge manufactures automated floating clamshell and bucket ladder dredge systems for the sand and gravel and aggregates industries. The company is based in Mannheim, Germany (www.rohrbagger.de).
“IDRECO will complement Rohr’s bucketladder and clamshell dredge excavating technology, solidifying our position as the producer of deep digging dredges that operate at the lowest cost per ton in our industry,” said Heiko Osterchrist, Rohr’s Managing Director.
Ellicott Dredge Enterprises is one of the oldest dredging companies in the world and has been supplying dredging equipment to governments, municipalities, contractors, sand and gravel operators, port authorities, and marina operators for over 125 years. The company is based in Baltimore, MD (www.dredge.com).
“Having IDRECO as part of the Ellicott group will increase our footprint in the European market place, as well as fulfill our continuing corporate pursuit of new dredging technology solutions for all our customers worldwide,” said Ellicott’s President Peter Bowe.
Markel Ventures is a subsidiary of Markel Corporation, a financial holding company with insurance, industrial, and service operations serving a variety of niche markets. Markel Ventures was established to acquire majority control of companies with revenues from $25 million to $250 million and EBITDAs from $5 million to $50 million. Sectors of interest include diversified manufacturing; service and value-added distribution; consumer and industrial products; capital equipment; and healthcare. The firm is based in Glen Allen, VA (www.markelcorp.com).
