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Rail News Home M&A

6/8/2006



Rail News: M&A

Railmark Holdings acquires short line and dinner train operator Coe Rail



Railmark Holdings Inc. recently purchased Coe Rail Inc. and Train Travel Inc. from Laurence Coe. Terms weren’t disclosed. Financing was provided by CIT Group Inc., and arranged by First Railroad Capital Corp. and Intellian Capital L.L.C.

Formed in 1984, Coe Rail operates a former Grand Trunk Western Railway line from a CSX Transportation interchange in Wixom to Walled Lake, Mich. The nine-mile short line moves plastics, lumber and aggregates in the Detroit metropolitan area, and operates the Michigan Star Clipper Dinner Train — the nation’s oldest, continuously running dinner train.

Railmark Holdings has moved its corporate headquarters from Peoria, Ill. to Walled Lake. The company provides track construction and maintenance, and freight-rail logistics services, and manages product development and sales for the new BLACKBEAUTY™ line of environmentally friendly wood ties, bridge components and rail-car decking.


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