California private equity firm acquires shortline holding company Regional Rail

RELATED TOPICS: SHORT LINES AND REGIONALS
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East Penn Railroad GP38-2s rest at Kennett Square in September 2011.
Michael T. Burkhart
KENNETT SQUARE, Pa. – Los Angeles-based private equity firm Levine Leichtman Capital Partners has completed its acquisition of Regional Rail LLC, a Pennsylvania-based shortline holding company formed in 2007.

Its operations include East Penn Railroad, operating 114 miles of track on 10 lines in Delaware and eastern Pennsylvania; Middletown & New Jersey Railroad, operating 43 miles of track in southeastern New York State; and Tyburn Railroad, operating a 14 acre rail to truck transload facility, a trucking company providing regional delivery services, and a terminal switching operation in Morrisville, Pa.

Regional Rail also owns Diamondback Signal LLC, offering railroad crossing signal inspection, installation, and maintenance.

“We are excited to partner with (President and CEO) Bob Parker, (Vice President and Chief Commercial Officer) Al Sauer, and the rest of the management team who have assembled very strategic assets serving the logistics needs of a diverse set of customers throughout the region," says Lauren Leichtman, co-founder and CEO of the firm. "These railroad veterans have done a great job acquiring undermanaged railroad assets and improving the operational performance to create value.”

Regional Rail’s management team will retain "significant ownership" and will continue to lead the company, which was formed in 2007.

NEWSWIRETrains News Wire

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