NEW YORK, July 31, 2019 /PRNewswire/ -- Alleghany
Capital Corporation ("Alleghany Capital"), a wholly owned
subsidiary of Alleghany Corporation, today announced that CEI
Equipment Company LLC ("CEI"), a subsidiary of R.C. Tway Company,
LLC (dba Kentucky Trailer) and a leading provider of animal feed
transportation equipment, has acquired substantially all of the
feed transportation assets of Warren Manufacturing, Inc. ("Warren
Manufacturing"). Headquartered in Birmingham, Alabama, Warren Manufacturing
designs, produces, and services bulk feed delivery truck bodies and
trailers for the poultry and other end markets.
Gary A. Smith, Sr., President and
Chief Executive Officer of Kentucky Trailer, commented, "We are
excited to expand Kentucky Trailer's position within the animal
feed transportation market through this transaction, which follows
closely on our December 2018
acquisition of CEI. As part of the acquisition, Jack Lyle, President of Warren Manufacturing,
and Mike Dennis, Vice President of
Sales of Warren Manufacturing, as well as a dedicated team of
associates will be joining CEI. Through the combined
expertise of the teams at Kentucky Trailer, CEI, and Warren
Manufacturing as well as an enhanced facility and service
footprint, we believe that CEI brings a truly unique set of
capabilities and resources to its markets."
Dan McDowell, a Managing Partner
of CEI, commented, "This acquisition augments our existing
operations, allowing CEI to increase its capacity and broaden its
geographic reach. As the clear industry leader in the animal
feed transportation market following this transaction, CEI is well
positioned for its next phase of growth through a continued
commitment to providing our customers with the highest quality
equipment and service. At the same time, we believe this
transaction will provide exciting options for our expanded group of
talented associates as we pursue numerous growth opportunities
worldwide."
Russell Warren, founder of Warren
Manufacturing and owner of the Warren family of companies, added,
"Since we formed Warren Manufacturing in 1985, we have strived to
deliver the best products and services for our customers. I
believe that by combining our feed transportation assets and the
experience of our team with Kentucky Trailer and CEI, our customers
will benefit from the strength of these two fine
organizations. The other divisions within the Warren family
of companies, which produce dump bodies and trailers, spreaders,
refuse trailers, and elevating fifth wheels, will continue under
the Warren name and management."
John Daly, Principal of Alleghany
Capital, commented, "This transaction bolsters our investment in
CEI and is consistent with Kentucky Trailer's strategy of building
leading positions in specialized transportation equipment
markets. Alleghany Capital looks forward to supporting
Kentucky Trailer, CEI, and the new team from Warren Manufacturing
as they pursue future growth opportunities together."
Ackerson & Yann PLLC acted as legal counsel to CEI and
Sirote & Permutt, PC acted as legal counsel to Warren
Manufacturing.
About Alleghany Capital Corporation
Alleghany Capital Corporation owns and manages a diverse
portfolio of middle market 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 through Bourn & Koch, Inc., Diamond
Technology Innovations, Inc. and Coastal Industrial Distributors,
LLC (dba CID Performance Tooling); (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; and (iv) Wilbert
Funeral Services, Inc., a provider of products and services for the
funeral and cemetery industries and precast concrete market.
Alleghany Capital's non-industrial businesses include: (i) Concord
Hospitality Enterprises Company, a hotel management and development
company; (ii) IPS-Integrated Project Services, LLC, a provider of
design, engineering, procurement, construction management, and
validation services for the pharmaceutical and biotechnology
industries; and (iii) Jazwares, LLC, a global toy, entertainment,
and musical instrument company. For additional information
about Alleghany Capital Corporation, please visit
www.alleghanycc.com.
About R.C. Tway Company, LLC
R.C. Tway Company, LLC (dba Kentucky Trailer), is the parent
company of five operating divisions: (i) Kentucky Trailer
Manufacturing (KTM), which designs, builds and manufactures custom
trailers and truck bodies for the moving and storage, snack food,
package delivery and logistics industries as well as other niche
markets; (ii) Kentucky Trailer Services (KTS), which delivers
complete repair, reconditioning, paint, graphics and other services
for truck bodies, drop frame and expandable trailers; (iii)
Kentucky Trailer Specialty Vehicles (KTSV), which designs, builds
and services trailers and custom specialty vehicles for mobile
medical, military/government, mobile marketing, motorsports and
other niche markets; (iv) Kentucky Trailer Finance (KTF), which
provides the Company's customers rental, lease and financing
options for select products and markets; and (v) CEI Pacer, which
designs, engineers, manufactures and services custom feed trailers,
bodies and equipment. For more information about Kentucky
Trailer, please visit www.kytrailer.com.
About CEI Equipment Company LLC
With more than 40 years of experience, CEI Equipment Company LLC
("CEI") is recognized as an industry leader for design innovation
and quality manufacturing of aluminum feed trailer and feed body
transportation equipment. Today, CEI produces a broad range
of aluminum feed transportation equipment that is used throughout
the world. CEI is a full-service facility capable of repairs,
reconditioning, and rebuilding feed transportation equipment of all
makes and models. For more information about CEI, please
visit www.ceipacer.com.
About Warren Manufacturing, Inc.
With 35 years of experience, Warren Manufacturing, Inc. ("Warren
Manufacturing") manufactures and services aluminum feed trailer and
feed body transportation equipment. Warren Manufacturing
maintains a full-service facility capable of repairs,
reconditioning, and rebuilding of a broad range of feed
transportation equipment and produces a broad range of aluminum
feed transportation equipment that is used throughout the
world. For more information about Warren Manufacturing,
please visit www.feedtrucks.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