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Continental Rail Corp. on Friday announced it acquired short line and regional consulting company Transportation Management Services (TMS), which will operate as a subsidiary.

Continental Rail also announced that TMS founder John Marino Sr. and TMS Chief Executive Officer John Marino Jr. will join Continental Rail's board and serve as advisers in the company's quest to acquire short lines and rail-related businesses. In addition, Marino Jr. will remain president of TMS, which previously established key development deals and successful short lines in Maryland, Michigan, Pennsylvania and Wisconsin, Continental Rail officials said in a press release.

Both Marinos have a combined total of more than 70 years of rail industry leadership and development experience, and have successfully acquired and grown railroad companies, they said. Marino Jr. was instrumental in securing contracts that eventually became the foundation of RailAmerica Inc.

The acquisition "adds a valuable resource and asset" toward the continued execution of the firm's strategy to acquire short lines, said Continental Rail President Wayne August.