Richmond, VA, December 14, 2015 – Markel Ventures, Inc. ("Markel") and CapTech Ventures, Inc. ("CapTech") announce today a majority investment in CapTech by Markel. Headquartered in Richmond, Virginia, CapTech is a national management consulting firm that helps bridge the gap between business and technology. Terms of the transaction were not disclosed.
Sandy Williamson and Slaughter Fitz-Hugh, CapTech's Co-Founders, remarked, "At CapTech, our people are our business and they are passionate about what they do. Our culture provides the opportunity for them to express their ideas and utilize their talents to create unique solutions with our customers." Williamson and Fitz-Hugh further commented, "When looking for a partner, we knew that we needed to find one that could understand CapTech's culture going forward, and we are excited to have Markel as that partner."
Thomas S. Gayner, President of Markel Ventures, commented, "We are delighted to welcome the CapTech team to Markel. They provide their clients with mission critical business and IT services and solutions, and their long-term record demonstrates success in accomplishing this goal. CapTech's focus on creating a great environment for its employees and clients matches up with our values at Markel. We look forward to working together to create continued growth and success."
CapTech is a national management consulting firm that bridges the gap between business and technology. CapTech delivers transformation, customer engagement, data & analytics and custom IT solutions for private companies, public companies and government agencies. The company's collaborative approach helps organizations grow their business, engage with customers and turn information into powerful data assets.
About Markel Ventures
Markel Ventures, Inc. is a wholly-owned subsidiary of Markel Corporation (NYSE: MKL). Markel Ventures makes strategic and generally controlling investments in businesses that operate outside of the specialty insurance marketplace. The primary goal of Markel Ventures is to positively contribute to the long-term financial performance of Markel Corporation through the value creating operating activities of its subsidiaries.
About Markel Corporation
Markel Corporation is a diverse financial holding company serving a variety of niche markets. The Company's principal business markets and underwrites specialty insurance products. In each of the Company's businesses, it seeks to provide quality products and excellent customer service so that it can be a market leader. The financial goals of the Company are to earn consistent underwriting and operating profits and superior investment returns to build shareholder value. Visit Markel Corporation on the web at www.markelcorp.com.
This release contains statements concerning or incorporating the company's expectations, assumptions, plans, objectives, future financial or operating performance and other statements that are not historical facts. These statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. There are risks and uncertainties that may cause actual results to differ materially from predicted results in forward-looking statements. Factors that could cause actual results to differ from those predicted are set forth under "Risk Factors" and "Safe Harbor and Cautionary Statement" in Markel Corporation's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q.