OmniTrax acquires Winchester & Western Railroad for $105M
DENVER — A managed affiliate of Denver-based OmniTrax Inc. has signed a definitive agreement to acquire a railroad company that operates in four eastern states.
OmniTrax ranks as one of the largest privately held rail-centric transportation and logistics service companies in North America and is an affiliate of The Broe Group. The company will pay $105 million to acquire the Winchester & Western Railroad, which operates in Maryland, New Jersey, Virginia and West Virginia.
The 101-year-old railroad will be purchased from Covia Holdings Corp. (NYSE: CVIA). The acquisition is expected to close in the third quarter of 2019, pending customary closing conditions, including approval by the U.S. Surface Transportation Board.
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The acquisition expands the OmniTrax-managed short line portfolio into key new distribution locations in multiple east coast markets, providing OmniTrax’s customers access to 100 million people within a day’s transit, the company said in a press release.
“OmniTrax has been growing at an average annual rate of 20+ percent for the past five years and the acquisition of this strategic distribution hub is a deliberate step toward enhancing the continued growth and strength of our thriving network,” Kevin Shuba, OmniTRAX CEO, said in a prepared statement. “Our expansion into these dynamic markets with a diverse, established customer base and strong regional economic partners offers tremendous growth potential and we have high expectations for economic impact and job production.”
OmniTrax operates the Great Western Railway of Colorado LLC, which operates throughout Northern Colorado. Broe owns the Great Western Industrial Park in Windsor.
DENVER — A managed affiliate of Denver-based OmniTrax Inc. has signed a definitive agreement to acquire a railroad company that operates in four eastern states.
OmniTrax ranks as one of the largest privately held rail-centric transportation and logistics service companies in North America and is an affiliate of The Broe Group. The company will pay $105 million to acquire the Winchester & Western Railroad, which operates in Maryland, New Jersey, Virginia and West Virginia.
The 101-year-old railroad will be purchased from Covia Holdings Corp. (NYSE: CVIA). The acquisition is expected to close in the third quarter of 2019, pending customary closing conditions,…
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