Benzinga | Jan 4, 2022 08:33AM EST

Alleghany Corp's Capital Unit's Wilbert Funeral Services Reports Purchase Of Memorial Monuments & Vaults, No Terms Disclosed

Alleghany Capital Corporation ("Alleghany Capital"), a wholly-owned subsidiary of Alleghany Corporation, announced that its subsidiary, Wilbert Funeral Services, Inc. ("Wilbert"), a leading provider of products and services for the funeral and cemetery industries and precast concrete markets, acquired Memorial Monuments & Vaults, Inc. ("Memorial Monuments") on December 29, 2021. Headquartered in Meridian, Idaho, Memorial Monuments is a provider of monuments and related funeral services to retail, funeral home, and cemetery customers.

Mark Bates, President and Chief Executive Officer of Wilbert, stated, "We are thrilled to partner with the talented team at Memorial Monuments. The combination of Wilbert's financial resources, leading national distribution infrastructure, and international sourcing abilities with Memorial Monument's artistry, industry leading technology, and focus on quality and customer service will enhance the value we bring to our funeral service customers across North America. The Memorial Monuments team will continue to run its day-to-day operations post-closing and our combined customers will benefit from the significant investment in technology we are making across the company, including expanding the Memorial Monuments customer interface and the addition of real-time delivery and installation information with Wilbert's SingleSource system."

Joey Chandler, President and Chief Executive Officer of Memorial Monuments, added, "Memorial Monuments is excited by this new partnership and the opportunities it provides for continued growth and expansion. Wilbert's unique position in the funeral service industry will enable us to bring our proven, customer-centric business model to a broader customer base and offer enhanced career growth to our highly-skilled team. This transaction helps both companies expand their market presence and accelerate future growth plans."

Rob Hulick, Principal of Alleghany Capital, commented, "We are pleased to welcome Memorial Monuments and its team to the Wilbert and Alleghany Capital family of companies. This is a highly strategic addition for Wilbert and will enable the company to better serve its customers, licensees, and partners across the funeral service and precast concrete industries."

Spencer Fane LLP acted as legal counsel to Wilbert. Palfreyman and Associates PLLC acted as legal counsel to Memorial Monuments.