News | July 31, 2019

Alleghany Capital Corporation Announces Acquisition Of Warren Manufacturing Assets By CEI Equipment Company

New York, NY /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.

SOURCE: Alleghany Capital Corporation

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