August 16, 2017
Alleghany Capital Corporation (“Alleghany Capital”), a wholly-owned subsidiary of Alleghany Corporation, today announced that it has entered into a definitive agreement to acquire a 45% equity interest in Wilbert Funeral Services, Inc. (“Wilbert”), a leading provider of products and services for the funeral and cemetery industries and precast concrete markets. Headquartered in Overland Park, Kansas, Wilbert operates through company-owned locations and a network of nearly 200 licensees that manufacture and distribute Wilbert® branded products throughout the United States and Canada.
Joseph U. Suhor, III, Chairman of the Board of Directors of Wilbert, stated, “As the majority owners of Wilbert, we have responsibilities to our employees and their families, our licensees, and our customers to position the company for continued success and growth well into the future. We believe that this transaction is the best course toward these ends and look forward to a productive partnership with Alleghany Capital.” Dennis Welzenbach, President and Chief Executive Officer of Wilbert, added, “Alleghany Capital’s business model is to provide a long-term home for entrepreneurial companies like ours and support their management teams as they continue to pursue profitable growth opportunities. Wilbert and Alleghany Capital share common values and, through our new partnership, Wilbert will be able to maintain the culture that has been at the core of its success, for the benefit of all stakeholders. We are proud of the team we have assembled and are excited to take Wilbert into the future with our new partner.”
David Van Geyzel, President and Chief Executive Officer of Alleghany Capital, commented, “Dating back to 1880, Wilbert has built its business from its early beginnings as a supplier of burial vaults to become a leading provider of a broad array of burial and cremation products and services for the funeral and cemetery industries, as well as a supplier of precast concrete products for a variety of markets.” Udi Toledano, Chairman of Alleghany Capital, added, “Wilbert has an established history of creating value through solid customer service, product and service innovation, and successful acquisitions. Alleghany Capital shares this vision for growth and looks forward to partnering with Joe, Dennis, and the rest of the Wilbert team as they continue to execute on their strategy.”
Dinan & Company, Translink affiliate in the US, acted as financial advisor and Willkie Farr & Gallagher LLP acted as legal counsel to Alleghany Capital. CC Capital Advisors acted as financial advisor and Spencer Fane LLP acted as legal counsel to Wilbert.
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Dinan & Company, LLC is the partner firm of Translink Corporate Finance in the United States. It is a leading diversified financial services company with over 32 years of advisory and merchant banking experience dedicated to middle-market transactions.