Markel To Acquire VSC Fire & Security, Expand Product Suite
Zacks Investment Research | Nov 10, 2019 09:24PM ET
Markel Corporation (NYSE:MKL) recently agreed to buy VSC Fire & Security, Inc., which offers comprehensive fire protection, life safety, and low voltage solutions. Notably, it caters to retailers, commercial campuses, healthcare facilities, and government properties across southeast United States.
The acquisition is expected to be completed in the fourth quarter of 2019. However, the additional terms have been kept under wraps.
VSC is known in the insurance industry as a provider of solutions to minimize damage if any mishaps occur and is thus a strategic fit for Markel.
VSC’s customers depend on the company’s protection solutions to safeguard their lives and property. The buyout will provide Markel with high-quality, high-integrity management team comprising VSC CEO, Michael Meehan and his team.
This acquisition reflects Markel’s strong financial standing, which should continue to support the company’s inorganic efforts.
Markel Corporation undertakes strategic buyouts from time to time. A number of acquisitions over the years have enabled the company to enhance its surety capabilities, ramp up Markel Ventures’ revenues and expand its reinsurance product offerings.
Some of the company’s notable deals are the Nephila buyout in November 2018, which expanded the company’s Insurance-Linked securities. In September, this year, the company announced the acquisition of online freelancer and contractor business of commercial insurance brokers, Caunce O’Hara.
Shares of this Zacks Rank #3 (Hold) insurance broker have gained 12.2%, outperforming the Original post
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