American Track Acquires the Railroad Associates Corp (TRAC)
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, [email protected], (817) 439-5693
Press Release Service by Newswire.com
Original Source: American Track Acquires the Railroad Associates Corp (TRAC)
More News
DoorDash to Buy Instacart for $17 Billion, Uniting 2 Delivery Giants
The deal combines the country’s largest restaurant delivery service with its biggest online grocery platform.
U.S. GDP Increased 3.4% in Third Quarter
The economy grew 3.4 percent in the third quarter, the fastest pace in a year. Strong spending and growth contrast with the poor marks many voters are giving the economy.
How to Plan a Trip Around a Running Race
When should you arrive? How do you choose an event? Here are some tips on how best to center a vacation around a race.
Island Energy: No plans to remove gas standing charge
The provider said any change would need support from the community, the regulator and government.
In Moving Gradually, Fed Risks Having to Play Catch-Up to Quell Inflation
Federal Reserve officials are expected to restart rate increases in December, but the cadence of additional moves will depend on the data.
Minimum wage rise 'a massive blow' says farmer
Tristan Bennett voices his disappointment in the Budget, describing it as "a lot of tinkering".
Minimum wage increase accepted by minister
A recommendation to increase the minimum wage by 2.8% is agreed by Senator Elaine Millar.
'Painful' years ahead, think tanks warn, as living standards set to fall
Budget forecasts show growth in living standards grinding almost to a halt.
RFK Jr. to Allow Broad Use of Unapproved Peptide Injections
In a unilateral declaration by the health secretary, several injections promoted by online influencers will become widely available. The F.D.A. had advised against the move.
Microsoft Up, Google Down. A Tale of Two Hyperscalers.
Investors are showing little patience for lavish spending and meager returns on companies’ artificial intelligence bets.
I earn £30,000. I'm angry there was no fuel duty cut in the Budget
People on a range of incomes from £4,062 to £150,000 a year tell the BBC what they made of this year's Budget.
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.