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RAIL EMPLOYMENT & NOTICES



Rail News Home M&A

5/2/2007



Rail News: M&A

Patriot Rail acquires Rarus Railway, Copper King excursion train


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It’s official. Patriot Rail Corp. is the owner of a second short line. Yesterday, the holding company announced it purchased Rarus Railway Corp. from the McCarthy family.

The 26-mile Rarus Railway operates a mainline between Anaconda and Butte, Mont., and 40 miles of track located in four switching yards and along numerous passing sidings. The short line — which moved 11,500 carloads last year — also operates a locomotive roundhouse, and wheel and machine shops.

The acquisition includes the Copper King Express excursion train that operates between Anaconda and Butte. Patriot Rail plans to continue to operate the passenger-rail line and develop a program aimed at expanding ridership and services, company officials said in a prepared statement. Patriot Rail last month obtained Surface Transportation Board approval to acquire the short line.

“Rarus has numerous opportunities for expansion beyond its existing customer base, and we will be investing new capital to grow the company,” said Gary Marino, president and chief executive officer of Patriot Rail, which was formed last year and owns the 118-mile Tennessee Southern Railroad Co.


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