The financial details of the transaction have not been disclosed.
USA Rail’s portfolio includes two terminals that offer different rail services such as railcar storage, switching, transloading and railcar cleaning solutions in the US Gulf Coast.
USA Rail owns the Union Pacific Railroad-served facility spread across 85 acres in Louisiana. The site is located near many major companies such as ExxonMobil and Dow Chemical.
This facility can store more than 550 railcars, which is expected to be increased to 2,000 railcars.
USA Rail also owns a Kansas City Southern Railroad served terminal in Texas, which is spread over 51 acres. It is in the Port Arthur and Beaumont refinery and petrochemical corridor and near Indorama, Exxon, and other blue-chip industrial companies.
The facility can store more than 900 railcars and switches over 15,000 carloads annually. It also offers a complete suite of rail services.
The two acquirers, namely Alpenglow and CC&L Infrastructure, own and operate VIP Rail, which owns two railcar storage, transloading, railcar cleaning, and switching companies.
Alpenglow CEO Rich Montgomery said: “USA Rail and the High Roller team had a lot of vision and built a great business. The facilities are state-of-the-art and built to last. The USA Rail assets are strategically located in excellent industrial markets and are well-positioned for both defensibility and growth.
“With our relationships, marketing capabilities and commitment to safety and customer service, we’re thrilled to work alongside the USA Rail team to continue to grow these companies, and to explore future opportunities with the High Roller team.”
High Roller Group CEO and president Dustin Bailey said: “Rich and the teams at Alpenglow and CC&L Infrastructure have been great to work with.
“They moved quickly to close the deal on a very tight timeline, they stuck to their word on price and were creative problem solvers. We were pleased to reach an agreement with Alpenglow and look forward to working with them on future opportunities.”
Last November, Canadian Pacific (CP) agreed to acquire Central Maine & Quebec Railway (CMQ) from Fortress Transportation and Infrastructure Investors (FTAI) for an undisclosed amount.