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Patriot Rail Co. LLC has entered an agreement to acquire short-line operator Salt Lake Garfield & Western Railway (SLGW) and its related entities Caballero LLC and Caballero 2 LLC, which are storage transload service providers.
Financial terms were not disclosed. The transaction is subject to closing and regulatory approvals.
The agreement fits Patriot's plans for growth in the short-line industry, said John Fenton, Patriot Rail's chief executive officer, in a press release.
Based in Salt Lake City, SLGW has added track and transload services over the past few years and has plans to expand in 2021.
"The state of Utah is thriving with growth projects. Patriot is excited to participate in these initiatives and we look forward to the evolving opportunities," Fenton said.
SLGW handles more than 6,000 carloads annually within its 26-mile line, which connects with Union Pacific Railroad and BNSF Railway Co.