Gates Group Capital Partners Invests in Leading Service Provider to Intermodal Transportation Terminals
CLEVELAND, Dec. 15, 2014 /PRNewswire/ -- Gates Group Capital Partners, LLC, a Cleveland-based private investment firm, announced that it has made a substantial equity investment in Remprex LLC, the nation's leading service provider to intermodal rail facilities. Terms of the transaction were not disclosed.
Based in Chicago, Remprex serves many of the largest railways in North America. The company provides services to intermodal rail terminals including the design, engineering, installation and operation of Automated Gate Systems (AGS). With a focus on technology, Remprex's end-to-end solutions serve to maximize operating efficiencies through AGS, remote operations and load planning. Coincident with the closing, James Shondel, the company's co-founder, has been elected chairman of the board and Emory Plitt III, the company's current COO, has been elected president and CEO.
"We are very pleased not only to be part of an industry with enormous growth potential, but to partner with a company that is the clear segment leader," said Mike de Windt, senior managing director and CEO for Gates Group. "Remprex's success over its relatively short existence is a product of an extraordinarily talented management team coupled with revolutionary products and services. We are excited to partner with the management team to build upon their success going forward."
"We're excited about having found a partner that brings the right amount of financial, operational and transportation experience to the table, said James Shondel. Together with Gates Group, Remprex will be better positioned to support our clients' dynamic needs.
"Gates Group will support Remprex in its continuing effort to be the premier service provider to the intermodal industry, de Windt said. Now more than ever, the Class 1 rails need the safest and most efficient terminal operations available in order to meet the increasing demand for intermodal services."
About Gates Group Capital Partners
Founded in 2002, Gates Group Capital Partners is a Cleveland, Ohio-based private investment firm that invests in North American transportation-related service businesses through a family of independently operated investment funds. For more information on Gates Group Capital Partners visit www.gatesgroupcp.com.
About Remprex
Founded in 2006, Remprex LLC provides managed technology, terminal operations, engineering and security services for intermodal transportation facilities. This includes the development of new terminals, facility retrofits and project management for railways throughout North America. For more information on Remprex visit www.remprex.com.
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SOURCE Gates Group Capital Partners
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