An independent US freight railroad and rail services management company has been acquired by Macquarie Infrastructure Partners (MIP), the Australian-based Macquarie Group’s fund dedicated to investing in North American infrastructure.
Headquartered in Boca Raton, Florida, RailUSA owns and operates two short line/regional railroads – Florida Gulf & Atlantic Railroad (FGA), which operates between Baldwin and Pensacola, Florida; and Grenada Railroad (GRYR), which operates between Memphis, Tennessee and Canton, Mississippi. RailUSA offers freight services, transloading, railcar storage and industrial development opportunities.
According to a regulatory filing with the Surface Transportation Board last week, “MIP Rail, American Rail Partners and RailUSA entered into a Purchase Agreement pursuant to which MIP Rail will acquire 100% of the equity interests of RailUSA”.
“Upon consummation of the transaction contemplated by the Purchase Agreement, MIP Rail, a noncarrier, will control RailUSA and its two common carrier railroad subsidiaries, GRYR and FGA.”
The filing also stated that the current RailUSA management team would be supplemented with the managerial capabilities and resources of the Macquarie Group, whose rail holdings include the former Australian operations of Genesee & Wyoming.