This most recent acquisition helps fulfill Patriot Rail's long-term strategy to provide a fully-integrated suite of rail-related services to its customers. Starting back in 2013, the company added Blue Ridge Railcar Repair Services; a railcar repair and maintenance facility based out of Keysville, Virginia to its portfolio, followed in 2014 with the acquisition of Foster Townsend Rail Logistics, a St. Louis, Missouri-based company specializing in contract railcar switching and logistics services. By the end of 2015, Patriot Rail had purchased the assets to form Global Rail Transfer Company, a nation-wide railway clean-up and transfer company also offering rail to truck transloading and track construction, repair and maintenance.
"Patriot Rail is no longer just a company made up of individual short line railroads," Patriot Rail President & CEO, John Fenton said. "We now offer a full range of services that allows us to develop customized, cost effective rail transportation plans for customers, on and off our rail lines. Providing a 'one-stop shop' for customers simplifies what can be a very complicated railroad supply chain and ultimately saves them time and money."
Patriot Rail Company LLC (Patriot Rail) is one of North America's safest and most reliable rail solutions companies, helping to develop innovative solutions while creating optimal value for its customers, stakeholders, and employees in the communities it serves. Patriot Rail is owned through an investment vehicle managed by SteelRiver Infrastructure Partners.
For more information on Patriot Rail and its affiliates, please visit Patriot Rail Company LLC online at www.patriotrail.com.
SteelRiver Infrastructure Partners is an independent investment management firm with over $4 billion of AuM that invests in infrastructure in North America for the long term, seeking out assets and businesses that provide essential services with stable cash flows, and often operating within a regulated framework. SteelRiver's long-term approach to infrastructure investing is characterized by a significant emphasis on value added through in-house asset management and experienced infrastructure investment professionals.
For more information on SteelRiver, please visit www.steelriverpartners.com.
Patriot Rail Company LLC
Maureen A. Donnelly
Assistant Vice President, Communications
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SOURCE Patriot Rail Company LLC