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USA Rail Terminals has been acquired by Alpenglow Rail in partnership with Connor, Clark & Lunn Infrastructure (CC&L Infrastructure), the companies announced yesterday.
Financial terms were not disclosed in a press release.
Alpenglow is a Denver-based firm specializing in investing in, operating and growing rail businesses. The firm acquired USA Rail from the High Roller Group and Jim Donnan Cos., both family controlled investment companies based in Center, Texas.
USA Rail owns an 85-acre, Union Pacific Railroad-served facility positioned in the Port Allen and Industrial markets. The facility stores more than 550 rail cars and plans are in place to expand storage capacity to more than 2,000 rail cars.
USA Rail also owns a 51-acre Kansas City Southern-served terminal in the Port Arthur and Beaumont refinery and petrochemical corridor in Texas. The terminal can store more than 900 rail cars, switches more than 15,000 carloads and provides a "full suite" of rail services, Alpenglow officials said.
"The USA Rail assets are strategically located in excellent industrial markets and are well-positioned for both defensibility and growth," said Alpenglow Chief Executive Officer Rich Montgomery.
Alpenglow and CC&L Infrastructure also own and operate VIP Rail, a business that consists of two rail-car storage, transloading, rail-car cleaning and switching companies in Sarnia, Ontario. CN and CSX serve VIP Rail.