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August 1, 2019

BRX Transportation Holdings completes Pioneer Railcorp acquisition

BRX Transportation Holdings has completed its previously announced acquisition of Pioneer Railcorp, a US-based railway holding company.

BRX Transportation Holdings has completed its previously announced acquisition of Pioneer Railcorp, a US-based railway holding company.

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Pioneer Railcorp owns 15 short-line common carrier railway operations in 12 US states. Additionally, its portfolio includes an equipment leasing company, two service companies and a contract services switching company.

In May, BRX Transportation Holdings signed a definitive agreement to acquire Pioneer for $18.81 per share in cash. Earlier this month, the transaction was approved by Pioneer Railcorp shareholders.

BRX Transportation Holdings is a special-purpose entity created as a partnership between Related Infrastructure, Brookhaven Rail Partners and Stephens Capital Partners to acquire the railroad company.

With the acquisition now complete, Pioneer will be led by BRX partner Alex Yeros as its CEO. Now, the special purpose entity plans to invest additional capital to upgrade Pioneer’s existing infrastructure and expand its franchise.

Related Instructure managing partner Andrew Right said: “Short-line railroads play a key role in our country’s transportation infrastructure and are critical to the national and global economy.

“Pioneer, operating across 12 states, services a diverse set of customers with a wide array of cargo from agriculture to finished products.

“We are excited to work with Brookhaven and the talented team at Pioneer to invest in the business, to provide even better service to our customers and to further grow the business by adding new customers who can benefit from the reliability and cost advantages of rail transport and by driving expansion across the platform.”

BRX aims to acquire additional short-line railway companies in the future to bolster its portfolio.

Related Companies

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What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

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