Ellicott Dredge Technologies’ Parent Company Makes Fortune 500 List

Ellicott Dredge Enterprises is pleased to announce that its parent, Markel Corporation, (NYSE: MKL) has earned a position on the latest Fortune 500 list, at number 476, with over $5 billion of revenues. This selection marks Markel’s first time ever on the list. Until relatively recently Markel was exclusively an insurance company.

Ellicott Dredge Technologies (EDT) is part of Markel Ventures (MV), the non-insurance operations of Markel. Markel Ventures, with over 7,000 employees and over $1 billion in revenues, earned over 70% of that revenue from manufacturing operations including EDT.


IMS Model 7012 HP Versi-Dredge cutting a channel in a shallow river in India

IMS 7012 HP Versi-Dredge Specs
Dredging Depth            9.1m (30 ft)
Total Power                  332 kW (445 HP)
Pipe Diameter              305mm (12 in.)

Ellicott sells portable suction dredges through the following brands: Ellicott, Mud Cat, IMS, Liquid Waste Technology, IDRECO; and mechanical dredges though the Rohr brand. Representative recent deliveries include a 26” 4000 HP (2983 kW) dredge to the government of Bangladesh and a 7012 Versi-Dredge to India.


Mud Cat ROV dredge for stormwater tunnel maintenance to prevent flooding

Mud Cat ROV Specs
Total Power                    40 HP (30 kW)
Max. Digging Depth        50 ft. (15.25m)
Sphere Passage             4 in. (101 mm)

In its 30 years as a public company, Markel has posted outstanding financial returns with a growth rate in book value of 14% per annum, compounded, growing from $16 million to almost $8 billion! Current market value exceeds US $13 billion. Earnings over that same period have grown more than one hundred fold, from $5 million to almost $600 million.

Markel’s strategy for its non-insurance operations (MV) is to “buy, build, and hold.” A subsequent sale or exit is not part of the MV business model. Its companies are financed with permanent capital using little or no debt, providing management maximum operating flexibility. Markel invests permanent capital in businesses that meet the following criteria:

1.      Profitable businesses with good returns on capital
2.      Talented management teams and a culture of integrity
3.      Reinvestment opportunities and capital discipline

“Ellicott, a 130+ year old company with established management and market-leading products and technologies, meets these criteria well,” said Ventures CEO Mike Heaton.

Ellicott Dredge Technologies President and CEO Peter Bowe noted that having the backing of Markel gives our customers the comfort of knowing that we will be around another century to serve them and support their growth, through good times and bad.