United Rail enlists Peakstone to raise capital for short-line acquisitions (6/17/2019)
6/17/2024United Rail Inc. has selected investment banking firm Peakstone to help the company raise capital to fund future acquisitions of short lines.
United Rail, a short-line consolidator and owner of the SmartRail brand for electronic precision railroading and brand licensor, has said that it has an active pipeline and plans to acquire seven short lines over the next 12 months.
"Over the past year we have identified several railroads that we have determined to be undervalued in the market," said United Rail Chief Executive Officer Michael Barron in a press release. "We have a very specific set of parameters and a strict evaluation process in terms of revenues, net income and operating margins. If the targets do not meet our criteria, we exclude those from consideration."
After acquiring a short line, United Rail employs its SmartRail precision railroading system to improve efficiency and increase operating margins, Barron said.
In February, United Rail announced it acquired New England Southern Railroad in Concord, New Hampshire.
Source: Progressive Railroading Daily News