Markel Corp. (MKL) said Tuesday that Ellicott Dredge Enterprises, LLC, through its subsidiary Rohr International Dredge Holdings, Inc., has acquired IDRECO GmbH, which is based in Heerenberg, The Netherlands.
Ellicott is a subsidiary of Markel Ventures, Inc., which is a wholly-owned subsidiary of Markel Corp. Terms of the deal were not disclosed.
IDRECO is a leader in deep digging electrical suction and cutter suction dredges serving mainly the sand and gravel and mining sectors.
Ellicott's President Peter Bowe said, "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."
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