M&A Article
Pioneer Railcorp acquires Maumee & Western line in Indiana, Ohio

Pioneer Railcorp announced yesterday that its wholly owned Michigan Southern Railroad Co. subsidiary has purchased a rail line formerly operated by the Maumee & Western Railroad Corp. in Indiana and Ohio. The 51-mile line between Woodburn, Ind., and Liberty Center, Ohio, will be operated as the Michigan Southern Railroad Co., doing business as the Napoleon, Defiance & Western Railway.

The Napoleon, Defiance & Western Railway will maintain six full-time employees in the Defiance, Ohio, area.

"We have purchased this line with the knowledge that it is in dire need of rehabilitation due to years of deferred maintenance. Our objective is to rehabilitate the line in order to provide consistent freight-rail service to all current and potential shippers utilizing the line," said Pioneer Railcorp President and Chief Executive Officer Mike Carr in a prepared statement.

The company also plans to restore two sections of track — from Napoleon to Liberty Center and west of Defiance to Cecil — to provide shippers connections to multiple Class Is.

"We are excited to service the strong customer base located on this railroad," said Carr. "Our company has a proven track record of transforming under-served short-line railroads into viable economic engines of growth through our customer focused rail transportation."

Pioneer Railcorp owns 17 short lines, as well as a railroad equipment company and contract switching services firm.

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