North American Rail Solutions
North American Rail Solutions Acquires Condor Signal & Communications Inc.
Fort Worth, Texas April 01, 2024.
North American Rail Solutions, through its subsidiary, Universal Rail Systems, is proud to announce that it has acquired Condor Signal & Communications in Oakville, Ontario, Canada. Universal Rail Systems is one of the largest providers of signals & communications services to the rail industry in Canada. This acquisition further expands its signals & communications capabilities in Canada and into the United States.
Condor, a well-respected provider of rail signals & communications services across North America, will operate as part of the Universal Rail signals group and maintain its offices in Oakville, Ontario. In addition, Condor will continue to provide high quality manufactured products such as rail switch heaters, bungalows, and racking systems under the CondorTM tradename.
Tim McMillan, President & Chief Operating Officer of Universal Rail Systems stated: “We are thrilled to have Condor join our Signals team and look forward to continuing to grow together. This acquisition also adds a line of quality Condor signals products, now available to our customers across Canada."
When asked about the transaction, Condor’s outgoing owner, Maggie DiPede-Sullivan said: "When reflecting on the transition of Condor, I feel a deep sense of joy and pride. Entrusting the future of Condor to a distinguished member of the rail supply industry fills me with confidence. It’s not just about passing on the baton; it’s about ensuring a prosperous future for our dedicated employees and the business that has been a significant part of my and my late husband’s (Michael Sullivan) life.“
Headquartered in Fort Worth, Texas, North American Rail Solutions is an international railroad services organization serving clientele across the continent. The organization’s unmatched reach is supported by an interconnected network of entrenched local offices and entities, enabling the team to respond to any railroad issue, anywhere within the United States or Canada. North American Rail Solutions (www.NorthAmericanRailSolutions.com) is a portfolio company of DFW Capital Partners.
Headquartered in Edmonton, Alberta, Universal Rail Systems is the leading railway infrastructure service provider in Canada, operating out of 12 locations across Canada from West coast to East Coast. URS is the largest provider of industrial rail inspection, maintenance, construction and terminal services in Canada. In addition, URS provides Class I and Transit customer support services including construction, flagging, signals, and ticketing. http://www.universalrail.com/
Condor Signals & Communications Inc.
Headquartered in Oakville, Ontario Condor Signal & Communications Inc. provides a total signal and communications solution for transit and rail customers in North America and Internationally. https://www.condorsignal.com/
North American Rail Solutions Acquires West Rail Construction
Fort Worth, Texas March 04, 2024.
North American Rail Solutions, through its subsidiary, American Track, is proud to announce that it has acquired West Rail Construction, LLC in Vancouver, WA. North American Rail Solutions is the largest provider of industrial rail inspection, construction, maintenance, and terminal services in North America.
West Rail Construction, led by its President, Mike Sands, has been a key provider of rail maintenance and construction services in the Northwest United States for over 25 years. West Rail provides services to customers in a wide range of industries including ports, forestry, chemicals, energy, waste and more.
North American Rail Solutions, is proud to announce that it has acquired West Rail Construction, LLC in Vancouver, WA.
This acquisition provides North American Rail Solutions and thus American Track, the opportunity to expand local presence and service offerings to customers in the Northwest region as well as other areas along the west coast.
Thomas Lucario, CEO of North American Rail Solutions stated: "The Northwest United States is an important territory for American Track and West Rail Construction is the premier rail service provider and operator in that geography. We could not be more excited to add Mike Sands and his team to the American Track family. We are certain that West Rail will help American Track grow and further our goals of expanding national coverage capabilities for our multi-site customers."
When asked about this transaction, Mike Sands of West Rail Construction said: "We are happy to join the American Track team. American Track will provide our operations with an essential injection of capital, operational support and reach needed to take our business to the next level. This is the right thing for us and our employees to provide the growth trajectory we were looking for in the Northwest."
Headquartered in Fort Worth, Texas, North American Rail Solutions is an international railroad services organization serving clientele across the continent. The organization’s unmatched reach is supported by an interconnected network of entrenched local offices and entities, enabling the team to respond to any railroad issue, anywhere within the United States or Canada. North American Rail Solutions (www.NorthAmericanRailSolutions.com) is a portfolio company of DFW Capital Partners.
Headquartered in Fort Worth, Texas, American Track Services is the leading independent provider of turnkey railroad design, repair, maintenance, construction, inspection, and terminal services for critical rail infrastructure atindustrial, short-line, municipal, and logistics sites in the United States. http://www.americantrack.com/
Headquartered in Edmonton, Alberta, Universal Rail Systems is the leading railway infrastructure service provider in Canada, operating out of 12 locations across Canada from West coast to East Coast. URS is the largest provider of industrial rail inspection, maintenance, construction and terminal services in Canada. In addition, URS provides Class I and Transit customer support services including construction, flagging, signals, and ticketing. https://www.condorsignal.com/
American Track Services acquires Universal Rail Systems and establishes North American Rail Solutions
Fort Worth, Texas, April 18, 2023.
As a leading provider of inspection, maintenance, repair and specialized construction services for industrial railroad infrastructure in the United States, American Track Services (“ATS”) is proud to announce the acquisition of Universal Rail Systems (“URS”) in Canada and the creation of a new parent company, North American Rail Solutions.
With the establishment of North American Rail Solutions, the two existing brands will operate under a consolidated umbrella, with ATS serving customers in the United States and URS serving customers in Canada. ATS and URS will remain focused on quality service while continuing to increase their geographic reach and combine their capabilities to deliver an industry-leading suite of solutions and services in both countries. The North American Rail Solutions brands partner with organizations of all sizes and across all industries to help them build and strengthen their rail transportation infrastructure to support operational growth.
Following this transaction, Thomas Lucario, current Chief Executive Officer of American Track Services, will serve as CEO for North American Rail Solutions, ATS, and URS. Ken Reger will serve as CFO. Tim McMillan will serve as President and COO of URS, lead operations in Canada, and will join the Board of Directors of North American Rail Solutions.
“The creation of North American Rail Solutions along with the consolidation of American Track Services and Universal Rail Systems will create increased capabilities that are unmatched in the industry,” said Thomas Lucario, CEO of American Track Services.We are a team of proactive experts whose unmatched industry experience will enable us to deliver the largest and most trusted rail services platform in North America. With this acquisition, we can now leverage our combined size and suite of services to support our partners and customers whenever and wherever they need us. The URS team has consistently provided excellent service and have proven themselves as the industry leader in Canada. ATS and URS share a common culture centered on customer service, quality, and responsiveness both internally and externally. We are proud to welcome Tim McMillan and the entire URS team into the North American Rail Solutions and American Track Services family.”
Tim McMillan, President and COO for URS added: “We are excited to partner with the ATS team to create the newly formed North American Rail Solutions. Our combined experience, resources, and scale will enable us to provide our customers with an unmatched level of service throughout North America. We very much look forward to this next chapter of growth in our business.”
In 2021, DFW Capital Partners acquired American Track Services and has assisted with an aggressive strategy to grow the organization organically and through acquisition. Operating from 12 full-service offices in strategically located U.S. markets, the company provides mission-critical services to its customers that ensure the safety, compliance, operability, and flexibility of onsite railway assets. American Track Services serves a wide range of industries, including manufacturing, petrochemical, mining, agricultural products, food and beverage, basic raw materials, ports, transload facilities, and short-line railroads.
Keith Pennell, Managing Partner of DFW Capital Partners, added: “Less than 18 months after our original investment in American Track Services, we have become the leading North American provider of rail inspection, maintenance, repair, and niche construction services to industrial customers. With the addition of Universal Rail Systems, we will not only broaden our footprint into Canada, but build upon established relationships and proven capabilities in the Class 1 and transit segments – all while partnering with a first-class team of industry veterans. We are excited to welcome the entire URS organization to the new North American Rail Solutions umbrella!”
ATS acquired URS from an investor group led by TorQuest Partners (“TorQuest”). TorQuest’s Mike Salisbury stated: “We are proud of the partnership we have built with the URS management team over the years and wish them continued success in this new chapter with ATS.”
URS was represented in the process by Northborne Partners and Lazard. Affiliates of DFW Capital Partners made an additional equity investment in the company, coupled with support from ATS’ existing lender, PineBridge Investments. Financial terms of the transaction are not being disclosed.
Headquartered in Fort Worth, Texas, North American Rail Solutions is an international railroad services organization serving clientele across the continent. The organization’s unmatched reach is supported by an interconnected network of entrenched local offices and entities, enabling the team to respond to any railroad issue, anywhere within the United States or Canada. North American Rail Solutions (www.NorthAmericanRailSolutions.com) is a portfolio company of DFW Capital Partners.
Headquartered in Fort Worth, Texas, American Track Services is the leading independent provider of turnkey railroad design, repair, maintenance, construction, inspection, and terminal services for critical rail infrastructure atindustrial, short-line, municipal, and logistics sites in the United States. http://www.americantrack.com/
Headquartered in Edmonton, Alberta, Universal Rail Systems is the leading railway infrastructure service provider in Canada, operating out of 12 locations across Canada from West coast to East Coast. URS is the largest provider of industrial rail inspection, maintenance, construction and terminal services in Canada. In addition, URS provides Class I and Transit customer support services including construction, flagging, signals, and ticketing. http://www.universalrail.com/
DFW Capital Partners
DFW Capital Partners is a private equity investment firm focused on lower middle-market companies. With ~$2 billion under management, the firm concentrates on service companies, with an emphasis on outsourced business and industrial support services, and healthcare companies. DFW has established a 20+ year track record of success in both building leading companies and recognizing attractive returns for its investors. DFW is headquartered in Teaneck, New Jersey and maintains an office in Chevy Chase, Maryland. Additional information is available on DFW’s website at www.dfwcapital.com.
TorQuest Partners
Founded in 2002, TorQuest Partners is a Canadian-based manager of private equity funds. With more than C$3.5 billion of equity capital under management, TorQuest is currently investing from TorQuest Partners Fund V, a C$1.4 billion fund that closed in March 2020. TorQuest invests in middle market companies and works in close partnership with management to build value. To learn more about TorQuest, please visit www.torquest.com