An broker accumulation headed by clandestine advance close Equity Accumulation Investments (EGI) that includes International Abuse Partners LLC (IRP) afresh affiliated added than $200 actor to advice IRP anatomy RailUSA LLC.
The new accessory already is allowance IRP access regionals and abbreviate lines. In August, RailUSA completed its aboriginal acquisition: Grenada Railroad LLC, which operates a 206-mile band amid Memphis, Tennessee, and Canton, Missouri. In cooperation with the North Central Mississippi Regional Railroad Authority, RailUSA affairs to restore and re-open the 87-mile southern allocation of the Grenada line, which has been bankrupt back 2011.
IRP is led by Gary Marino, a 35-plus-year abuse industry adept who founded and managed RailAmerica Inc. and Patriot Abuse Corp. IRP’s chief administration aggregation — which collectively has added than 200 years of abuse industry acquaintance — “has accurate ability in accepting and amalgam new railroads, and in maximizing their abeyant through sales/marketing and operational efficiencies,” said Evan Harwood, EGI’s managing administrator and a RailUSA lath member, in a columnist release.
“[EGI’s] accomplished railroad industry acquaintance accompanying with their adjustable basic access to investing, and IRP’s able-bodied abuse accretion activity positions us able-bodied to aerate the amount of RailUSA,” said Marino. “We achievement to beat our accomplished abuse accretion accomplishments.”
EGI was founded 50 years ago by Sam Zell, who endemic the Santa Fe and Southern Pacific railroads in the 1980s and led an industry-wide rail-car alliance effort. He awash his rail-car portfolio to GE Basic Railcar Services in 1992.
“With an accretion charge for first- and last-mile solutions for the [rail] customer, we see advancing opportunities in the [short-line] space,” said EGI Co-President Mark Sotir.
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