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Levine Leichtman Capital Partners (LLCP), a Los Angeles private equity firm, has acquired Regional Rail LLC, an operator of U.S. short lines and rail-related businesses, the companies announced yesterday.Regional Rail’s management team will retain significant ownership and continue to lead the company, officials said in a press release. Additional financial details of the transaction were undisclosed.Formed in 2007 and based in Kennett Square, Pa., Regional Rail acquired several short lines in the mid-Atlantic serving customers in agriculture, lumber, energy and metal products. The company operates the East Penn, Tyburn and Middletown & New Jersey railroads. Subsidiary Diamondback Signal provides engineering, construction and maintenance for grade crossings."Having a partner with a long history of successfully investing in operating entrepreneurs to execute their growth strategy was key to us in selecting our new financial partner. LLCP's resources and experience will be invaluable as we move into our next phase of growth," said Regional Rail President Bob Parker.
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