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OmniTRAX adds to short line portfolio by acquiring San Luis & Rio Grande Railroad out of bankruptcy

October 13th, 2022

Denver-based OmniTRAX said this week that it has entered into a contract to purchase the assets of the San Luis & Rio Grande Railroad (SLRG) out of bankruptcy. Terms of the deal, which is expected to close later this year, were not disclosed.

SLRG has operated its 155-mile short line serving the San Luis Valley the past three years in bankruptcy while trying to find a buyer. U.S. Bankruptcy Court and Surface Transportation Board must approve the sale.

According to published reports, SLRG was seeking a minimum bid of $5.75 million and has about $4 million in debt. OmniTRAX, a transportation affiliate of The Broe Group, reportedly began negotiating with SLRG in September.

OmniTRAX has finalized the purchase of the San Luis & Rio Grande Railroad from bankruptcy. Above, SLRG No. 1100, a rebuilt EMD FP10, awaits departure of a scenic train ride at the Alamosa, CO, station in June. – OmniTRAX

“As a Colorado company, we know how important the SLRG has been to the San Luis Valley and Colorado’s economy,” said OmniTRAX CEO Dean Piacente. “The Broe Group companies have grown with Colorado for 50 years and we are proud to help revitalize this railroad to bring more business and jobs to the region and our state.”

OmniTRAX purchase of San Luis & Rio Grande marks 26th rail operation

Originally constructed in 1870, the short line has played a vital role in moving freight throughout the west. The SLRG also provides a key state-wide freight connection between the San Luis Valley and Colorado’s eastern plains. The railroad also operates a scenic excursion train.

The acquisition marks OmniTRAX’s 26th rail operation, expanding its rail network to more than 2,000 miles across North America, while doubling its Colorado footprint. The acquisition offers expanded reach for the line’s active rail customers and provides new opportunities to grow the region’s economic base, the company said. 

“The SLRG removes tens of thousands of trucks from Colorado’s highways and the Sangre de Cristo Mountain range’s scenic La Veta pass,” added Piacente. “Rail continues to be the most eco-friendly freight solution over land and that’s especially important to such a vibrant part of our state.”

OmniTRAX provides transportation and supply chain management services to railroad and port companies, as well as intermodal and industrial switching operations to railroads, ports and a diverse group of industrial companies. Through its affiliation with The Broe Group and its portfolio of managed companies, OmniTRAX also offers specialized industrial development and real estate solutions, both on and off the rail network managed by OmniTRAX.

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    INSIDE THIS ISSUE

  • Rock Solid

    In the past four years, Mike Armstrong’s HO Rock Island Lines has received much attention in the model railroad press and is one of 30 or more layouts that will be on tour at the NMRA National Convention, Aug. 20-26 in Grapevine, TX. Growing up in Nevada, IA, in the 1960s, Armstrong learned to appreciate the six major roads that ran through the state and others that juked around the Central U.S. While the Rock Island Lines covers the Mid-Continent Route from Inver Grove Yard in St. Paul, MN, to Armourdale Yard in Kansas City. several Midwestern railroads make frequent cameo appearances. Like it was when he grew up in the 1960s, Armstrong is in the middle of all the action.

     

  • Patience. Tenacity. Skill

    When a bright 14-year-old wowed model railroaders decades his senior with custom O-gauge switches in his Illinois basement in the 1970s, it heralded the second coming of three-rail. Since then, Ross Custom Switches has cemented itself into model train history with the country’s largest offering of O-gauge items. The company makes track and switches for both the discerning modeler who strives for a prototypical look and the guy who just likes toy trains

     

     

  • Cowboy and Cactus Country

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  • PLUS…

    GVT Rail has big plans for its new ALCO PA “Nickel Plate Road No. 190.” The railroad company recently purchased the restored locomotive from a top rail preservationist. …

     

    April’s Rocky Mountain Train Show accomplished its mission in April of increasing attendance and adding more exhibitors. …

     

    Project Layout: The N-scale Whitehurst & Pine Ridge Railroad solves a switching puzzle for a cement distributor in Pine Ridge with help from its Class I parent. …

     

     

    THESE STORIES AND MORE, PLUS A FULL CALENDAR OF UPCOMING EVENTS AND THE BUSINESS PULSE OF THE RAILROAD INDUSTRY!

     

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  • Product News & Review

    InterMountain HO ADM Corn Syrup Car

     

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