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Tag: Infrastructure

  • American Track Acquires the Railroad Associates Corp (TRAC)

    American Track Acquires the Railroad Associates Corp (TRAC)

    The leading US railroad contractor further expands national reach.

    Press Release
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    Apr 13, 2022


    FORT WORTH, Texas, April 13, 2022 (Newswire.com)
    –
    As the Nation’s leading provider of inspection, maintenance, repair and specialized construction services for industrial railroad infrastructure, American Track is proud to announce the acquisition of The Railroad Associates Corp (TRAC) in Boiling Springs, PA.  

    In 2021, DFW Capital Partners acquired American Track and has assisted with an aggressive strategy to grow the organization organically and through acquisition. Operating now from 10 full-service offices in strategically located markets, the Company provides mission-critical services for its customers that ensure the safety, compliance, operability and flexibility of onsite railway assets. American Track serves a wide range of industries, including manufacturing, petrochemical, mining, agricultural products, food and beverage, basic raw materials, ports and transload facilities across the U.S. 

    Thomas Lucario, Chief Executive Officer of American Track, commented: “TRAC has been a strong force in the railroad services industry, and we are happy to have them join the American Track family. With the addition of the TRAC team, American Track greatly enhances our service delivery capabilities, customer base and national reach.”  

    “We are excited to join the American Track organization,” stated Mike Kennedy, founder of TRAC. “We set out 22 years ago to build a great company, and joining American Track is the culmination of those efforts. We are happy to be a part of a team that delivers to rail service clients a shared commitment to strong customer service, quality workmanship and safety.”  Dave Goretski, former COO of TRAC, added, “With our strong maintenance presence in the Northeast and nationwide presence on rail construction projects, TRAC brings new and increased solution-based service capabilities to an already strong, national organization.” As part of the combination, Dave will serve as the Chief Development Officer for American Track, while Mike will remain active with the organization and support in an advisory capacity. Dave, Mike and certain key TRAC employees also have joined in the management equity ownership of American Track.

    TRAC was represented in the process by TM Capital www.tmcapital.com. Affiliates of DFW Capital Partners made an additional equity investment in the company, coupled with support from the existing American Track lender, PineBridge Investments.

    About American Track

    Headquartered in Fort Worth, Texas, American Track is the leading independent provider of turnkey railroad design, repair, maintenance, construction, and inspection services for critical rail infrastructure at industrial, municipal, and logistics sites. American Track, www.AmericanTrack.com, is a portfolio company of DFW Capital Partners. www.dfwcapital.com

    About The Railroad Associates Corp (TRAC)

    Founded in 2000, TRAC is the final succession in a multi-generational rail services business owned by the Kennedy Family in eastern Pennsylvania. TRAC specializes in providing railroad design and construction services from concept to completion. Additionally, TRAC performs railroad maintenance and terminal services for industrial customers in the Northeast U.S. More information can be found at www.railroadtracusa.com.  

    For more information regarding this release, please contact:

    Thomas Lucario, American Track, tlucario@americantrack.com, (817) 439-5693

    Source: American Track Services

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  • American Track Recapitalizes to Continue to Pursue Growth With DFW Capital Partners

    American Track Recapitalizes to Continue to Pursue Growth With DFW Capital Partners

    Press Release
    –

    Dec 2, 2021


    FORT WORTH, Texas, December 2, 2021 (Newswire.com)
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    American Track, the Nation’s leading provider of inspection, maintenance, repair and specialized construction services for industrial railroad infrastructure, announced the closing on a recapitalization transaction led by DFW Capital Partners. Operating from nine branch offices in strategically located markets, the Company provides mission-critical services for its customers that ensure the safety, compliance, operability and flexibility of onsite railway assets. American Track serves a wide range of industries including manufacturing, petrochemical, mining, agricultural products, food and beverage, basic raw materials, ports and transload facilities across the US.

    American Track has been partnered with Hilltop Private Capital since its formation through a consolidation of two family businesses in 2016. During this time, American Track has seen great success and has grown from three locations to nine, with multiple acquisitions included. Kate Lehman, Managing Partner for Hilltop Private Capital, stated, “We are proud to have partnered with management and the company founders to create the American Track platform and to provide the resources to execute our growth strategy. We thank our capital partners PNC Mezzanine Capital and Deerpath Capital Management for their support and wish the entire American Track team continued success as it moves forward.”

    Thomas Lucario, Chief Executive Officer of American Track, commented: “Hilltop and PNC Mezzanine Capital have been excellent partners for American Track over the past five years and have led us to achieve exceptional growth. With that in mind, we are extremely excited about partnering with DFW Capital Partners as we move into our next stage of expansion into additional services and geographies. We are certain DFW will provide us with not only additional resources, but also the right leadership, perspective, and commitment to invest in our people, equipment and customers in the future.”

    Keith Pennell, Managing Partner for DFW, added, “American Track represents a unique opportunity to back a very talented operating team and a market leading operating business in what remains a highly fragmented, specialized industry. We are excited to contribute some of our prior experiences in successfully scaling field service-oriented businesses to American Track, as well as supporting a more robust organic and add-on growth strategy.”

    About American Track

    Headquartered in Fort Worth, Texas, American Track provides railroad inspection engineering, repair and maintenance, construction services for critical rail infrastructure at industrial, municipal, and logistics sites from various locations across the US. www.AmericanTrack.com

    About Hilltop Private Capital

    Hilltop is a private equity firm focused on providing flexible capital and operating resources to lower middle market companies at a growth or ownership inflection point. The firm is operated by experienced investors with a successful track record of supporting management teams to reach their strategic, operational, and financial goals.  www.HilltopPrivateCapital.com

    About PNC Mezzanine Capital

    PNC Mezzanine Capital is a flexible junior capital provider with expertise supporting buyouts, recapitalizations, and consolidation strategies. PNC MC invests in companies operating in a wide range of industries, but has particular interest in Manufacturing, Value-Added Distribution, Business Services, and Consumer Services. Since 1989, PNC Mezzanine Capital has been a stable, thoughtful junior capital partner for private equity firms, independent sponsors, entrepreneurs, and management teams. PNC MC’s approach is to underwrite the long-term business strategy of their portfolio companies, allowing them to respond constructively to the opportunities and challenges of the changing business environment. As a result, PNC Mezzanine Capital has made 190 investments in 98 portfolio companies in support of 367 transactions.  Investments are a combination of subordinated debt and equity between $10 million and $50 million in companies with strong management, proven business models, stable cash flows, and a clear plan for growth. www.pnc.com/mezzanine

    About DFW Capital Partners

    DFW Capital Partners is a private equity investment firm focused on lower middle-market companies. The firm concentrates on service companies catering to complex and regulated end markets, with an emphasis on healthcare and outsourced business and industrial support services. DFW has established a 20+ year track record of success in both building leading companies and recognizing attractive returns for its investors. DFW is headquartered in Teaneck, New Jersey, and maintains an office in Chevy Chase, Maryland. https://dfwcapital.com

    For More Information:

    Thomas Lucario

    info@americantrack.com

    817-439-5693

    Source: American Track

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  • American Track Acquires Savage ‘Track Inspection, Maintenance and Repair Group’

    American Track Acquires Savage ‘Track Inspection, Maintenance and Repair Group’

    Press Release
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    updated: Apr 22, 2020


    FORT WORTH, Texas, April 22, 2020 (Newswire.com)
    –
    ​As one of the nation’s leading railroad design, construction and maintenance companies in the United States, American Track is proud to announce the purchase of the “Track Inspection, Maintenance and Repair” group from Savage Transportation Management in Salt Lake City, UT. With this acquisition, American Track will acquire Savage’s assets and the team associated with railroad track inspection, maintenance, and repair services throughout the U.S., including operations in Louisiana, Utah, Wyoming and Colorado.

    American Track was formed by Hilltop Private Capital in 2016 to create a national provider of safe, high-quality track maintenance and construction services. With over 45 years of heritage, the combined Company now operates in 10 locations across the U.S. under the name American Track Services to provide rail support services to essential mines, ports, refineries, manufacturing facilities, warehouses, trans-load facilities, rail-car maintenance, short line and mainline railroads across the U.S. More information about locations and services can be found on the company’s website at www.AmericanTrack.com.  

    Thomas Lucario, President and CEO of American Track commented: “The Savage Track Inspection, Maintenance and Repair team has a strong reputation of quality service working for some premier customers in the U.S. transportation, refining and manufacturing sectors. We are proud to add this group to our team at American Track and look forward to carrying on and expanding that legacy within our organization.”

    “Hilltop is excited to help American Track in their efforts to expand their service capabilities and reach,” said Drew Shea, Managing partner of Hilltop Private Capital. “We strive to partner with and assist our companies in finding growth opportunities, organically and through acquisitions. American Track will continue to look for similar opportunities throughout 2020.” More information can be found about Hilltop Private Capital and how they support companies like American Track at hilltopprivatecapital.com. 

    About American Track

    American Track is a Fort Worth, TX-based company that specializes in the inspection, repair, maintenance, design and construction of railroad track, predominantly for private industrial users. For more information, visit www.americantrack.com.

    Media Contact:

    Thomas Lucario, info@americantrack.com, (817) 439-5693

    Source: American Track

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