FORT WORTH, Texas, April 13, 2022 (GLOBE NEWSWIRE) -- As the Nation's leading provider of inspection, maintenance, repair and specialized construction services for industrial railroad infrastructure, American Track is proud to announce the acquisition of The Railroad Associates Corp (TRAC) in Boiling Springs, PA.
In 2021, DFW Capital Partners acquired American Track and has assisted with an aggressive strategy to grow the organization organically and through acquisition. Operating now from 10 full-service offices in strategically located markets, the Company provides mission-critical services for its customers that ensure the safety, compliance, operability and flexibility of onsite railway assets. American Track serves a wide range of industries, including manufacturing, petrochemical, mining, agricultural products, food and beverage, basic raw materials, ports and transload facilities across the U.S.
Thomas Lucario, Chief Executive Officer of American Track, commented: "TRAC has been a strong force in the railroad services industry, and we are happy to have them join the American Track family. With the addition of the TRAC team, American Track greatly enhances our service delivery capabilities, customer base and national reach."
"We are excited to join the American Track organization," stated Mike Kennedy, founder of TRAC. "We set out 22 years ago to build a great company, and joining American Track is the culmination of those efforts. We are happy to be a part of a team that delivers to rail service clients a shared commitment to strong customer service, quality workmanship and safety." Dave Goretski, former COO of TRAC, added, "With our strong maintenance presence in the Northeast and nationwide presence on rail construction projects, TRAC brings new and increased solution-based service capabilities to an already strong, national organization." As part of the combination, Dave will serve as the Chief Development Officer for American Track, while Mike will remain active with the organization and support in an advisory capacity. Dave, Mike and certain key TRAC employees also have joined in the management equity ownership of American Track.
TRAC was represented in the process by TM Capital www.tmcapital.com. Affiliates of DFW Capital Partners made an additional equity investment in the company, coupled with support from the existing American Track lender, PineBridge Investments.
About American Track
Headquartered in Fort Worth, Texas, American Track is the leading independent provider of turnkey railroad design, repair, maintenance, construction, and inspection services for critical rail infrastructure at industrial, municipal, and logistics sites. American Track, www.AmericanTrack.com, is a portfolio company of DFW Capital Partners. www.dfwcapital.com
About The Railroad Associates Corp (TRAC)
Founded in 2000, TRAC is the final succession in a multi-generational rail services business owned by the Kennedy Family in eastern Pennsylvania. TRAC specializes in providing railroad design and construction services from concept to completion. Additionally, TRAC performs railroad maintenance and terminal services for industrial customers in the Northeast U.S. More information can be found at www.railroadtracusa.com.
For more information regarding this release, please contact:
Thomas Lucario, American Track, tlucario@americantrack.com, (817) 439-5693
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