All about the community of model railroading and rail enthusiasm throughout the Southwest and Midwest

  • 0
  • 1

Cowcatcher Magazine

  • Home
  • News
    • Top News
    • Class 1 Railroads
    • Short Line Railroads
    • Light Rail / Commuter
    • Model Railroading
    • Railroad in Focus
    • Up Close
    • Heritage
  • About
  • Subscribe
    • Info & Updates
    • Subscribe or Renew with Paypal
    • Subscribe or Renew with Credit Card
    • Back Issues
    • Retrospectives
  • Contact Us
  • Available At

Genesee & Wyoming acquires RailAmerica, Patriot Rail Corp. reaches deal to sell

August 2nd, 2012

Genesee & Wyoming is acquiring RailAmerica, which operates the Dallas, Garland & Northeastern, seen here at Dallas’s Union Station. – Cowcatcher Magazine

From News Releases

Two of the rail industry’s larger regional and short line railroads are getting new owners.

RailAmerica announced in July that it had entered an agreement to sell to Genesee & Wyoming, and Patriot Rail Corp. was acquired in June by a San Francisco-based investment and asset management services company.

GWI is acquiring RailAmerica for an all-cash purchase price of $27.50 per share. GWI’s acquisition of RailAmerica will combine the two largest short line and regional rail operators in North America, strengthening GWI’s ability to serve its industrial customers and Class I railroad partners. GWI expects to fund the transaction and the simultaneous refinancing of its existing debt with approximately $2.0 billion of new debt and approximately $800 million of equity or equity-linked securities.

RailAmerica operates 45 railroads in 28 states and three Canadian provinces with approximately 7,500 miles of track. Among its affiliates are the Kiamichi Railroad; Chicago, Fort Wayne & Easter; Bauxite & Northern Railway; Dallas, Garland & Northeastern; Kyle Railroad; Missouri & Northern Arkansas Railroad; and Texas Northeastern Railroad.

SteelRiver Infrastructure Partners will acquire 100 percent of Patriot Rail’s stock through its dedicated infrastructure investment vehicle SteelRiver Infrastructure Fund North America LP.  The acquisition is subject to customary closing conditions, including the effectiveness of the control notice of exemption filed with the Surface Transportation Board.

Patriot is a leading operator of short line and regional freight railroads in the United States.  The Company operates the Louisiana & Northwest Railroad, Temple & Central Texas Railway, DeQueen & Eastern Railroad and Texas, Oklahoma & Eastern Railroad, as well as seven others that traverse 500 total rail miles across 13 states.

As part of the transaction, Patriot’s founder, Chairman, President and CEO, Gary O. Marino, will retire from these positions upon closing and provide consultancy services to Patriot’s management and its board.  Marino, who formed Patriot in 2006, was the co-founder and former Chairman, President and CEO of RailAmerica, Inc. (NYSE: RA).

John Fenton will become Patriot’s new CEO upon consummation of the sale.  Fenton is a career railroader and, most recently, has served as CEO of MetroLink, Southern California’s commuter rail public agency that manages a 512-mile system across six counties, including Los Angeles, and operates 162 daily trains.

 

  • Short Line Railroads

Add Your Comment

Cancel reply
  • March/April 2021

  • Order Today!

    PURCHASE THE CURRENT ISSUE TODAY!

    JUST $5.95, includes shipping (U.S. only)!

     

    Allow 3-5 business days for delivery upon placement of order.

     

    ** Email us for international shipping rates**

     

  • Pressing Ahead

    The Cowtown Model Railroad Club has evolved from the former Lockheed Martin Recreation Association Railroad Activity, once Dallas/Fort Worth’s premier model railroad club. A handful of members have carried on the HO Gulf & Denver Railroad Authority, which is back in operation and sporting a new mission.

     

  • Time now for passenger rail

    Tracks are aligning for a bright future in public transportation and travel by rail with the onset of a new administration on Capitol Hill.  Funding opportunities await for returning Amtrak daily long-distance service and improving transit rail infrastructure. The key will be keeping several bills on course.

     

     

     

  • PLUS…

    The Cowcatcher’s N-scale Whitehurst & Pine Ridge Railroad found a way to visually block the main line from Dallas to Kansas City when it comes a little too close for comfort.

     

     – Cowcatcher Magazine                                        
     

    BNSF Railway Co. (BNSF) and Wabtec’s exploration of the future of battery-electric locomotives crossed another milestone in early January with testing in revenue service between Barstow and Stockton, CA…

    …

     

    Pat Hiatte resumes his virtual travel along the nation’s rail network when passenger rail was king. He rides the Colorado Eagle from Denver to St. Louis…

     

    LGB is producing an F7A-B locomotive set in Amtrak’s original paint to celebrate the passenger line’s 50th anniversary in 2021.

     

     

    THESE STORIES AND MORE, PLUS A FULL CALENDAR OF UPCOMING EVENTS!

     

  • Product News & Review

    Rapido HO Flexi-Flo Hoppers

     

     

    Last fall, Rapido Trains released its first HO-scale replica of the ACF PD3500 Flexi-Flo covered hopper in each variation produced by American Car & Foundry. Models feature a wealth of detail.

     

    More product reviews!

     

    See product news!

     

  • Don’t Miss an Issue

    Click here to subscribe to Cowcatcher Magazine, the model railroad magazine and rail enthusiast magazine all about the community of model railroading and rail enthusiasm, today!
  • Back Issues

    Be sure to check out our Back Issues page for any issues you may have missed. We have expanded descriptions for issues published beginning in 2007. Click here to order.

     

    Order the January/February 2021 issue today!

     

  • Article & Photo Submissions

    We encourage readers to submit articles and photos. For details, visit our guide here .

  • Railroad in Focus

    Cowcatcher Magazine routinely features short lines and regional railroads that roam the Midwest and Southwest. Features include color photographs and maps, but an overview of operations and latest business trends.

     



    Like us on Facebook!  
  • The New Whitehurst & Pine Ridge Railroad




    Visit the new N-scale Whitehurst & Pine Ridge Railroad, the official model railroad of the Cowcatcher Magazine, and track progress. All aboard!
  • HMA Promotional Video

    https://youtu.be/bxrwl13N1Rc

© 2020 Cowcatcher Magazine | No content from this site may be copied or re-used without permission | 2021 Cowcatcher Magazine. Site powered by Childress Media