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Rail News: Short Lines & Regionals

Former RailAmerica, Patriot Rail execs form International Rail Partners


Gary Marino now is leading a third firm that aims to acquire and control rail properties. The former RailAmerica Inc. leader and Patriot Rail Corp. founder currently heads International Rail Partners L.L.C. (IRP), which was recently formed to pursue the acquisition and operation of freight railroads outside of the United States, as well as other rail-related support businesses worldwide.

Marino serves as managing member at the company, which is headquartered in Boca Raton, Fla., and maintains an office in San Francisco.
Other managers at the firm include Donald Redfearn, a former RailAmerica president and Patriot Rail executive vice president; and Bennett Marks, a former EVP and chief financial officer at RailAmerica and Patriot Rail. Combined, the three executives have more than 65 years of rail industry experience.
While at RailAmerica, the execs directed the growth of the company from a start-up in 1986 to the world’s largest short-line and regional railroad operator with more than 50 railroads generating more than $500 million in revenue. IRP officials said in a prepared statement. They also helped grow Patriot Rail into “one of the premier” short-line holding companies in the nation, they said.

“We are excited to enter this new business venture and look forward to repeating our success by building IRP into a world-class rail transportation service provider,” said Marino. “We have an ambitious strategic plan to make a number of select freight-rail acquisitions outside of the United States over the coming years. In partnership with our rail operations, IRP also seeks to acquire ancillary rail service providers located in the U.S., Canada and other countries.”

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More News from 8/23/2012