Markel Ventures acquires Eagle Construction
Virginia-based Markel Ventures bought Eagle Construction, a home builder also based in Virginia. No financial details of the transaction were given. The deal, however, is Markel's second in Eagle Companies. Both firms undertook a joint venture in 2010 which formed Markel|Eagle Partners. The joint venture company is now the region's leader in real estate asset management. As in its previous deals with the investment firm, there will be no changes in Eagle Construction's current leadership team and associates.
Eagle is engaged in the business of building single-family residential homes in the State of Virginia. It was established in 1984 by Bryan Kornblau and Bud Ohly. In addition to construction, its subsidiary firms also provide residential and commercial realty services. Its subsidiaries are Eagle Realty, Eagle Commercial Construction and NAI Eagle.
Eagle Construction President Robert "Bud" Ohly Jr said, "Eagle's longstanding relationship with Markel gave us the assurance that they share our deep commitment to our customers, trade partners and dedicated team of employees. Our new partnership positions the Eagle Companies to build on our experience and further our evolution into one of the premier diversified real estate firms in Central Virginia and beyond."