Trinity purchases rail-car leasing firm, finalizes Thrall Car merger (10/31/2001)
10/31/2021Four days after merging its rail-car division with Thrall Car Manufacturing Co., Trinity Industries Inc. Oct. 30 reached an agreement to purchase Chicago-based Transport Capital, a rail-car leasing and equipment financing company.
Dallas-based Trinity Industries plans within 30 days to close the transaction, which includes common stock and cash totaling less than $5 million.
Transport Capital President Stephen Menzies was named president of Trinity Industries new rail-car leasing and management business, reporting to Chief Executive Officer Timothy Wallace.
While managing director of Newport Credit Group's Rail Finance Group, Menzies helped complete a $450 million transaction that formed Transport Capital Rail Partners, which owns the 8,400-car fleet Transport Capital manages.
Trinity Industries Oct. 26 completed the Thrall Car merger, creating Trinity Rail Group Inc., which plans to design and manufacture a full range of rail cars at U.S.-based and European facilities.
Former Thrall Car Vice Chairman Michael Flannery was named rail group CEO, reporting to Wallace.
Also, Trinity Rail Group created four operating units, naming Thrall Car President and Chief Operating Officer Martin Graham president of Thrall Trinity Freight Car; Trinity Freight Car Division President Patrick Wallace president of Trinity Rail Components & Repair; and Trinity General Director Europe Thies Rice president of Trinity Rail GmbH.
Trinity Tank Car President Jeffrey Marsh remains in that role, while former Thrall Car Chairman Craig Duchossois joins Trinity's board.
Source: Progressive Railroading Daily News