3I GROUP PLC 3i-backed Regional Rail, a leading owner and operator of short-line freight railroads across North America, has acquired the assets of Clinton Terminal Railroad. Carolina Coastal Railway (CLNA), a subsidiary of Regional Rail, will become the new owner and operator of the Clinton Terminal assets, which will become the Clinton Branch of the CLNA. The acquisition expands Regional Rail's existing presence in North Carolina, which it built through the acquisition of Carolina Coastal Railway in 2020.
Al Sauer, CEO of Regional Rail, commented:
"We are excited to partner with the team at Clinton Terminal and view this as a natural expansion of our footprint in North Carolina. We believe there are attractive opportunities in the market and look forward to building upon the railroad's existing operations."
Bob Lowe, CEO of Clinton Terminal, commented:
"We are proud of what we have built at Clinton Terminal over the years and believe that Regional Rail will be a great steward of the railroad, in addition to a strong partner to our customers going forward."
Since 2019, 3i and Regional Rail have more than tripled the number of railroads under Regional Rail's control and expanded the platform across North America. Today, the company provides freight transportation, car storage, and transloading services across the United States and western Canada. In addition to freight rail services, Regional Rail provides railroad crossing signal design, construction, inspection, and maintenance services to a diverse base of short-line and industrial customers via the company's Diamondback Signal subsidiary.
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For further information, contact:
3i Group plc Kathryn van der Kroft Media enquiries Silvia Santoro Shareholder enquiries | Tel: +44 20 7975 3021 Email: kathryn.vanderkroft@3i.com Tel: +44 20 7975 3258 Email: silvia.santoro@3i.com |
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About 3i Group
3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America.
About European Bakery Group
3i is a leading international investment manager focused on mid-market infrastructure and private equity, with core investment markets in North America and Europe. For further information, please visit: www.3i.com.
About Regional Rail LLC
Regional Rail is a freight transportation holding company headquartered in Kennett Square, Pennsylvania. The company provides freight rail transportation, car storage, and transloading services across the U.S. and western Canada, in addition to railroad crossing signal design, construction, inspection, and maintenance services via the company's Diamondback Signal subsidiary. For further information, please visit: www.regional-rail.com.
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3i Group plc published this content on 02 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2023 09:36:05 UTC.
