Railway supply industry news round-up
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12/15/20
GenNx360 Capital Partners, a New York-based private equity firm, today announced the successful sale of its portfolio company,
Appalachian Railcar Services
, to Cathcart Rail.
GenNx360 invested in ARS in March 2017 as part of a sector focused, proactive sourcing strategy targeting investments in the railcar services sector. Over the past three years, GenNx360, in partnership with management, transformed ARS into a highly strategic industry leader through a number of initiatives that drove revenue and margin growth. Key accomplishments include significantly enhancing the leadership team, implementing a network-wide commercial strategy, driving improved operational efficiencies, improving the management information systems and controls, expanding facility capabilities, and integrating four disparate business units into an industry-leading network of facilities providing best-in-class customer service and quality across every facility.
December 16, 2020
Cathcart Rail Acquires Appalachian Railcar Services Written by Marybeth Luczak, Executive Editor
With the addition of railcar repair and maintenance company ARS, Cathcart Rail now employs 800 people across 60 locations in 22 states.
Cathcart Rail and its financial partner, Star America Infrastructure Partners, LLC, have acquired Appalachian Railcar Services (ARS), a railcar repair and maintenance company based in Eleanor, W.Va.
ARS was sold from parent company GenNx360 Capital Partners, a private equity firm investing in middle-market business services and industrial companies. ARS provides certified tank car and freight car repair in 10 locations, from Maryland to Nebraska; interior and exterior cleaning, coating, and lining services; mobile repair; on-site customer repair operations; switching operations; and railcar storage. It serves companies in the agriculture, chemicals, manufacturing, energy, food proce