Condor will continue to operate out of Oakville, in suburban Toronto. Credit: The Bold Bureau/ Shutterstock

Rail services and systems provider North American Rail Solutions (NARS) has acquired Canadian signalling company Condor Signals and Communications. 

The deal was done via NARS’s Canadian subsidiary, Universal Rail Systems headquartered in Edmonton, Alberta. 

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Condor will continue its operations in Oakville, Ontario, while a part of Universal Rail Systems. It will maintain its trading name and its products lines of rail switch heaters, bungalows, and racking systems will continue to carry the Condor name. 

NARS is a parent company, established by private equity investment firm DFW Capital Partners in 2021. DFW Capital Partners manages approximately $2bn in assets and said it focuses “on outsourced business and industrial support services.” 

Tim McMillan, President & Chief Operating Officer of Universal Rail Systems said: “We are thrilled to have Condor join our Signals team and look forward to continuing to grow together. This acquisition also adds a line of quality Condor signals products, now available to our customers across Canada.” 

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Thomas Lucario, CEO of North American Rail Solutions added; “Adding Condor to our Universal Rail Systems portfolio expands our signals capabilities not only in Canada, but into the US markets as well. It is an example of our ongoing commitment to growth and support to our customers across North America.”

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Maggie DiPede-Sullivan was the owner of Condor before the acquisition, and described her feelings towards the deal: “When reflecting on the transition of Condor, I feel a deep sense of joy and pride. Entrusting the future of Condor to a distinguished member of the rail supply industry fills me with confidence. It’s not just about passing on the baton; it’s about ensuring a prosperous future for our dedicated employees and the business that has been a significant part of my and my late husband’s life.”