LOUISVILLE, Ky. – December 20, 2018 – Kentucky Trailer, a subsidiary of Alleghany Capital Corporation, today announced it has reached a definitive agreement to acquire a majority interest in CEI Equipment Company, LLC (“CEI”). CEI, headquartered in Cedar Rapids, Iowa, is an industry leader in the production and service of global aluminum feed transportation equipment.
Kentucky Trailer is a leading manufacturer of custom trailers, truck bodies, and mobilized workplace solutions. The company’s growth strategy focuses on achieving top market share in specialized transportation markets. The investment in CEI marks Kentucky Trailer’s entrance into the feed transportation industry.
CEI selected Kentucky Trailer and Alleghany Capital as investors because they provided the company with the best structure and support for the future.
“Kentucky Trailer and Alleghany Capital are looking for smart growth opportunities that not only strengthen our business but also the business of the companies we invest in. We believe in CEI’s industry-leading products and want to position the company for substantial future growth,” said Kentucky Trailer President and CEO Gary A. Smith, Sr.
CEI management members, Dan McDowell, Jim Ross and Jim Stoelk added, “CEI and Kentucky Trailer are driven to be the best in the world at design, build and service solutions. As we pursue our next stage of growth, we are pleased to partner with both Kentucky Trailer and Alleghany Capital, who represent natural strategic partners for us as we seek to capitalize on the numerous opportunities we see in the animal feed transportation market.”
Kentucky Trailer sets the industry benchmark as North America’s largest manufacturer of moving and storage trailers, as well as enclosed auto transporters for automobile, motorcycle, and vehicle transport trailers. In addition to moving and storage, vehicle transport trailers and custom builds, Kentucky Trailer also manufactures trailers for: commercial, military/government, mobile medical, motorsports, mobile marketing, oil/gas, product and package delivery, and snack foods.
About Alleghany Capital Corporation
Alleghany Capital Corporation sources, executes, and oversees industrial and non-industrial investments and acquisitions for its parent company, Alleghany Corporation (NYSE:Y). Alleghany Capital's industrial businesses include: (i) Bourn & Koch, Inc., a manufacturer/remanufacturer of specialty machine tools and supplier of replacement parts, accessories, and services for a variety of cutting technologies; (ii) R.C. Tway Company, LLC (dba Kentucky Trailer), a manufacturer of custom trailers and truck bodies for a variety of end markets; (iii) WWSC Holdings, LLC, a structural steel fabricator and erector for commercial, manufacturing, and transportation infrastructure projects; and (iv) Wilbert Funeral Services, Inc., a leading provider of products and services for the funeral and cemetery industries and precast concrete markets. 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 design, engineering, procurement, and construction management company focused on the global 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 is the parent company of four operating segments: (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, trailers, and expandables; (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; and (iv) Kentucky Trailer Finance (KTF), which provides the company's customers rental, lease, and financing options for select products and markets. For more information about Kentucky Trailer, please visit www.kytrailer.com.
About CEI Equipment Company, LLC
With over 40 years of experience, CEI Equipment Company, LLC, 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.
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