Alleghany Capital Corporation Announces Investment In Kentucky Trailer
NEW YORK, Sept. 4, 2013
NEW YORK, Sept. 4, 2013 /PRNewswire/ --Alleghany Capital Corporation
("Alleghany Capital"), a wholly-owned subsidiary of Alleghany Corporation,
today announced that it has acquired an interest in R.C. Tway Company, LLC
("R.C. Tway"), a fourth generation family-owned company headquartered in
Louisville, Kentucky. R.C. Tway is the parent company of Kentucky Trailer, a
leading manufacturer of custom trailers and truck bodies for the moving and
storage industry and other markets.
Gary A. Smith, Sr., President and Chief Executive Officer of R.C. Tway,
commented, "The investment by Alleghany Capital provides a unique opportunity
for Kentucky Trailer. Through this partnership, Kentucky Trailer is better
positioned to accelerate planned growth initiatives with our strong management
team, serve our existing and new customers, and build on our company's family
heritage by providing the opportunity for the involvement of the next
David Van Geyzel, President and Chief Executive Officer of Alleghany Capital,
stated, "Over the past 77 years, under the leadership of R. C. Tway, Sr. and
his descendants, Kentucky Trailer has provided its customers in the moving and
storage industry and other specialized markets with high quality custom
trailers and services. We look forward to partnering with Kentucky Trailer's
dedicated management team and associates as the company embarks on the next
chapter of its already distinguished history."
Hunter Wise Securities, LLC acted as financial advisor and Olshan
FromeWolosky LLP acted as legal counsel to Alleghany Capital. Ackerson &
Yann, PLLC acted as legal counsel to R.C. Tway.
About R.C. Tway Company, LLC
R.C. Tway Company, LLC is the parent company of four operating divisions: (i)
Kentucky Trailer Manufacturing (KTM), which designs, builds, and manufactures
custom trailers 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, and
other services for trailers and truck bodies; (iii) Kentucky Trailer
Technologies (KTT), which builds custom specialty vehicles and other mobile
platforms for a variety of markets; and (iv) Kentucky High Tech Performance
Trailers (KHT), which designs, builds, and manufactures race transporters for
a variety of race series and motorsport venues.
About Alleghany Capital Corporation
Alleghany Capital Corporation is a wholly-owned subsidiary of Alleghany
Corporation that engages in and oversees strategic investments and
acquisitions. Its current investments include Bourn & Koch, Inc., a
manufacturer and remanufacturer/retrofitter of precision machine tools and
supplier of replacement parts; ORX Exploration, Inc., a regional oil and gas
exploration and production company; and Stranded Oil Resources Corporation, an
exploration and production company focused on enhanced oil recovery.
Alleghany Corporation (NYSE-Y) is a holding company which owns and manages
operating subsidiaries and investments, anchored by a core position in
property and casualty reinsurance and insurance. Alleghany's property and
casualty subsidiaries include: Transatlantic Holdings, Inc., a leading global
reinsurance organization; RSUI Group, Inc., a national underwriter of
specialty property and liability insurance coverages; Capitol Transamerica
Corporation, an underwriter of specialty property, casualty and surety
insurance coverages; and Pacific Compensation Corporation, an underwriter of
workers' compensation insurance primarily in California.
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
Contact: Jeff Majtyka/Mike Smargiassi, Brainerd Communicators, Inc.,
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