Markel Ventures Obtains Majority Interest in Havco

Havco Wood Products LLC has announced a new partnership with Markel Ventures, Inc., a wholly owned subsidiary of Markel Corporation, a diverse financial holding company serving a variety of niche markets.

"Our new partnership with Markel is an important next step for Havco, our customers, and our employees,” says Bruce Bader, president and 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.”

News of this new partnership coincides with the development of a new product Havco is set to unveil in the upcoming weeks—the Fusion Floor, the next generation of composite flooring from Havco.

Though Markel now has a majority interest in Havco, the structure of the company is to remain unchanged. Havco’s Jim Vangilder will retain his ownership position and continue to serve on the board of directors, and Bruce Bader and the rest of the Havco management team will continue to serve in their current roles in the company.

"Havco is a wonderful addition and a great fit for Markel Ventures,” says 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."

Related content: Havco Names Carr VP of Sales and Marketing

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