DENVER, Oct. 25, 2022 /PRNewswire/ - Alpenglow Rail Services Corp. (Alpenglow) and its partner, Connor, Clark & Lunn Infrastructure (CC&L Infrastructure), today announced the acquisition of Alberta Midland Railway Terminal Ltd. (AMRT), a dual-served rail terminal located in Lamont County serving customers in Alberta’s fast-growing Industrial Heartland. AMRT is located in the greater Edmonton region, approximately 30 kilometers east of Fort Saskatchewan. The acquisition of AMRT further expands Alpenglow and CC&L Infrastructure's rail portfolio to the Province of Alberta. Alpenglow’s portfolio now comprises three rail terminals in Canada and three in the U.S. Gulf Coast.
AMRT spans 300 acres and offers customers over 1,400 railcar storage spots and a unit train capable loop track. With connections to both the Canadian National and Canadian Pacific railways, AMRT is the only dual-served rail terminal within Alberta's Industrial Heartland. AMRT specializes in safely providing railcar staging and storage-in-transit to blue-chip industrial customers within the region. Under Alpenglow's ownership, AMRT will expand its service offering to include transloading of product to and from railcar, railcar cleaning and railcar repair.
"We are thrilled to add AMRT to our portfolio," said Rich Montgomery, CEO of Alpenglow. "The AMRT team has developed an exceptional business, and we look forward to continuing to drive growth in Lamont County. Having dual service to multiple Class 1 railroads provides AMRT's customers competitive options resulting in lower transportation fees and a much larger network of origination and destination locations. We serve many of the same customers as AMRT at our other terminal locations, which provides us a unique opportunity to grow these relationships and continue to add value by expanding into this important market."
AMRT President and COO Shawn I. Smith added, "AMRT was developed from greenfield over the past eight years. We're very proud to have witnessed our founder Darcy Heggie's vision become reality. AMRT has a great team and valued customers which have helped us grow to this point. We believe both our people and customers are now in good hands with Alpenglow and CC&L Infrastructure. With Alpenglow's extensive relationships and expertise in transloading – a service that is in high demand in our region, and together with their access to capital, Alpenglow is the right party to shepherd AMRT through this important next phase of growth."
This is Alpenglow and CC&L Infrastructure's sixth terminal acquisition since they formed their partnership in 2019. Their portfolio includes VIP Rail, a rail business that encompasses two railcar storage, switching, transloading, and railcar cleaning terminals in Sarnia, Ontario, and USA Rail Terminals, a portfolio of three similar rail terminals located in the U.S. Gulf Coast.
"The AMRT transaction is very strategic to our portfolio," said Alpenglow's Chief Strategy Officer, Josh Huster. "Through the acquisition of AMRT, Alpenglow is now the only rail terminal business serving three major petrochemical centers in North America: the Alberta Heartland, the U.S. Gulf Coast, and Southwestern Ontario. This allows us to serve our customers in multiple markets, and to create pitch and catch opportunities for our customers as all three energy hubs are very integrated."
Alpenglow Rail develops and manages freight rail businesses and related transportation assets across North America. Alpenglow Rail currently owns and operates six rail terminals strategically located in leading industrial markets within Canada and the U.S. Gulf Coast. Alpenglow Rail was founded by seasoned railroad executives Rich Montgomery, Darcy Brede, Henning von Kalm, and Josh Huster. For more information, please visit www.alpenglowrail.com.
CC&L Infrastructure invests in middle-market infrastructure assets with attractive risk-return characteristics, long lives, and the potential to generate stable cash flows. To date, CC&L Infrastructure has accumulated over $5 billion in assets under management diversified across a variety of geographies, sectors, and asset types, with over 90 underlying facilities across over 30 individual investments. CC&L Infrastructure is a part of Connor, Clark & Lunn Financial Group Ltd., a multi-boutique asset management firm whose affiliates collectively manage approximately CAD$98 billion in assets. For more information, please visit www.cclinfrastructure.com.
SOURCE Alpenglow Rail
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