NEW YORK, Jan. 4, 2022 /PRNewswire/
-- Alleghany Capital Corporation ("Alleghany Capital"),
a wholly-owned subsidiary of Alleghany Corporation, announced that
its subsidiary, Wilbert Funeral Services, Inc. ("Wilbert"), a
leading provider of products and services for the funeral and
cemetery industries and precast concrete markets, acquired Memorial
Monuments & Vaults, Inc. ("Memorial Monuments") on December 29, 2021. Headquartered in
Meridian, Idaho, Memorial
Monuments is a provider of monuments and related funeral services
to retail, funeral home, and cemetery customers.
Mark Bates, President and Chief
Executive Officer of Wilbert, stated, "We are thrilled to partner
with the talented team at Memorial Monuments. The combination
of Wilbert's financial resources, leading national distribution
infrastructure, and international sourcing abilities with Memorial
Monument's artistry, industry leading technology, and focus on
quality and customer service will enhance the value we bring to our
funeral service customers across North America. The Memorial
Monuments team will continue to run its day-to-day operations
post-closing and our combined customers will benefit from the
significant investment in technology we are making across the
company, including expanding the Memorial Monuments customer
interface and the addition of real-time delivery and installation
information with Wilbert's SingleSource system."
Joey Chandler, President and
Chief Executive Officer of Memorial Monuments, added, "Memorial
Monuments is excited by this new partnership and the opportunities
it provides for continued growth and expansion. Wilbert's
unique position in the funeral service industry will enable us to
bring our proven, customer-centric business model to a broader
customer base and offer enhanced career growth to our
highly-skilled team. This transaction helps both companies expand
their market presence and accelerate future growth plans."
Rob Hulick, Principal of
Alleghany Capital, commented, "We are pleased to welcome Memorial
Monuments and its team to the Wilbert and Alleghany Capital family
of companies. This is a highly strategic addition for Wilbert
and will enable the company to better serve its customers,
licensees, and partners across the funeral service and precast
concrete industries."
Spencer Fane LLP acted as legal counsel to Wilbert.
Palfreyman and Associates PLLC acted as legal counsel to Memorial
Monuments.
About Wilbert Funeral Services, Inc.
Established in 1880, Wilbert Funeral Services, Inc. is a
licensor of, and supplier to, independently owned concrete burial
vault manufacturers that are licensed to manufacture Wilbert® brand
burial vaults. The company also sells its Astral brand of caskets
and Pierce Chemical brand of embalming fluids and other funeral
industry products directly to funeral home customers through its
vast distribution network. Wilbert's Internal Licensee division
manufactures and distributes vaults, caskets, lawn crypts,
monuments, and other precast concrete products as a licensee. For
more information about Wilbert, please visit www.wilbert.com.
About Memorial Monuments & Vaults, Inc.
Established in 1979, Memorial Monuments and Vaults, Inc. is a
leading supplier of monuments, vaults, and large-scale memorial
installations throughout the western United States. The
company has 19 locations in the states of Oregon, Washington, Idaho, Nevada, Utah,
Wyoming, Nebraska, North
Dakota, Montana and
Colorado. For more information,
please visit www.memorialmonumentsinc.com.
About Alleghany Capital Corporation
Alleghany Capital Corporation owns and supports a diverse
portfolio of non-financial businesses for its parent company,
Alleghany Corporation (NYSE:Y). Alleghany Capital's
industrial businesses include: (i) Precision Cutting Technologies,
Inc., a holding company focused on the machine tool and consumable
cutting tools sectors; (ii) R.C. Tway Company, LLC (dba Kentucky
Trailer), a manufacturer of custom trailers and truck bodies for
several niche end markets; (iii) WWSC Holdings, LLC, a structural
steel fabricator and erector for commercial, industrial, and
transportation infrastructure projects; (iv) Wilbert Funeral
Services, Inc., a provider of products and services for the funeral
and cemetery industries and precast concrete markets; and (v)
Piedmont Manufacturing Group, LLC, a provider of injection molded
and thermoformed parts and multi-component assemblies for OEM
customers in the industrial, commercial, transportation,
recreational, and medical end-markets. Alleghany Capital's
non-industrial businesses include: (i) IPS-Integrated Project
Services, LLC, a global provider of design, engineering, and
related services to the biopharmaceutical and life sciences
markets, and through its subsidiary Linesight, cost and project
management services for clients in the data center, technology, and
other sectors; (ii) Jazwares, LLC, a global toy and musical
instrument company; and (iii) Concord Hospitality Enterprises
Company, a hotel management and development company. For
additional information about Alleghany Capital Corporation, please
visit www.alleghanycc.com.
Forward-looking Statements
This release contains disclosures which are forward-looking
statements as defined in the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include all
statements that do not relate solely to historical or current
facts, and can be identified by the use of words such as "may,"
"will," "expect," "project," "estimate," "anticipate," "plan,"
"believe," "potential," "should," "continue" or the negative
versions of those words or other comparable words. These
forward-looking statements are based upon Alleghany's current plans
or expectations and are subject to a number of uncertainties and
risks that could significantly affect current plans, anticipated
actions and Alleghany's future financial condition and
results. These statements are not guarantees of future
performance, and Alleghany has no specific intention to update
these statements. As a consequence, current plans,
anticipated actions and future financial condition and results may
differ from those expressed in any forward-looking statements made
by Alleghany or on Alleghany's behalf.
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SOURCE Alleghany Capital Corporation; Alleghany Corporation