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Rail News: Short Lines & Regionals

Watco adds investment partner


Watco has entered into a strategic equity relationship with a global investment management firm that will provide Watco with proceeds from a new Series E perpetual preferred equity security.

The new investment will enable Watco to refinance part of its capital structure, provide additional capital to support ongoing customer growth initiatives and fund future acquisition opportunities, Watco officials said in a press release.

The private investor will join Watco’s other strategic equity partners: Oaktree Transportation Infrastructure Fund, Kinder Morgan and Norfolk Southern. As part of Watco's capital structure refinancing, SkyKnight Capital, an investor in Watco since 2016, will be exiting the investment group.

The new investor was not identified in the press release.

Contact Progressive Railroading editorial staff.

More News from 7/7/2021