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Announced

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

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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railroad holding company

railroad equipment

Private

Majority

Acquisition

United States

Pending

Single Bidder

Private Equity

Domestic

Friendly

Railroad Equipment

Synopsis

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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.

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