US-based Patriot Rail Company has enhanced its portfolio with the addition of Salt Lake Garfield & Western Railway (SLGW), a short line operator in Utah.
The company has finalised the purchase of SLGW and its associated entities for an undisclosed sum.
The acquisition includes SLGW units Caballero and Caballero 2, storage and transload service providers.
This will be Patriot’s first bolt-on acquisition following its takeover by global infrastructure investor First Sentier Investors (FSI) in October 2019.
Patriot CEO John Fenton said: “The SLGW has been a long-trusted railroad in the Salt Lake City area for more than 125 years. We are proud to carry that legacy forward for our customers.
“This addition to the Patriot portfolio strengthens our ability to continue providing competitive and innovative transportation solutions in the western region of the United States.”
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SLGW currently handles more than 6,000 loaded locomotives a year in its 26-mile line.
The line links with the Union Pacific Railroad and BNSF Railway, as well as runs next to the two main interstates.
Patriot operates five breakbulk and container terminals, 13 regional and freight short line railroads, as well as an off-port cold storage facility, a rail excursion train, and three rail-related services companies.
Fenton added: “It’s an exciting time for us. With the SLGW, we look forward to working with customers, state and local leaders, and other key stakeholders to support future growth.”