Igneo-backed Patriot Rail to acquire Pioneer Lines from US InfraVest, Stephens and Brookhaven.

Igneo-backed Patriot Rail, a transportation company managing over 630 miles of short line railroads, agreed to acquire Pioneer Lines, a railroad holding company operating 15 short line railroads across 12 states, from private equity firms US InfraVest, Stephens and Brookhaven. Financial terms were not disclosed. "Pioneer Lines is a diverse rail company with talented professionals and deep customer relationships. Pioneer Lines' safety culture and focus on operational excellence aligns directly with Patriot Rail's vision and mission. These synergies position us to continue to exceed customer expectations as a best-in-class rail partner to meet their freight shipment and logistics needs," John E. Fenton, Patriot Rail CEO.