Markel adds third company to ‘PE’ portfolio

Markel Corp., one of the largest specialty insurance companies in the U.S. with its headquarters in Richmond, has added to its investment portfolio a Texas-based manufacturer in a deal valued at less than $50 million.

Panel Specialists — which makes walls, furniture and other products for property managers, architects and builders – has around 175 employees during peak months. The company has revenue of $30 million, according to Michael Mendelson, a senior vice president at Anderson Strudwick who helped assemble the deal. Read more