Appalachian Railcar Services, Inc. Announces Acquisition of FreightCar America’s Railcar Repair and Maintenance Services Business
ELEANOR, WV, SEPTEMBER 30, 2015 — Appalachian Railcar Services, Inc. (“ARS”) announced today that its wholly-owned subsidiary, ARS Nebraska, LLC, has acquired all of FreightCar America, Inc.’s railcar repair and maintenance services business.
ARS’ President and Chief Executive Officer, Kurt Higginbotham, said, “The acquisition of FreightCar America’s railcar repair and maintenance services business is a great moment in our company’s history. By bringing these FCA operations into our portfolio, we will greatly expand our customer base and open up tremendous opportunities for the future.”
This latest acquisition by ARS further solidifies ARS’s aggressive growth plans. In December of 2014, ARS acquired BRC Rail Car Service Company based in Lynchburg, VA, which enabled the company to participate in the tank car service industry. With the addition of FCA, ARS will be adding 125 employees, 5 physical locations, 22 miles of rail, a 5-mile short line operation, and direct connections with the Burlington Northern Sante Fe Railroad and the Union Pacific Railroad. Since 2000, ARS has grown from a single service rail operation in West Virginia only to a multi-service rail enterprise offering services in 15 states. Services include railcar repair and maintenance, coal loading and unloading, train handling, industrial switching, trans-loading, railcar storage, and buying, selling and leasing of railcars.
Steptoe & Johnson PLLC served as ARS’ legal counsel on the transaction.Read More
NEW YORK, NY – May 8, 2015 Rail Connection, Inc. (RCI) is pleased to announce the formation of a joint venture with ITE Management, L.P. with the purpose of acquiring, leasing, and operating railcars. The joint venture, Rail Connection, L.L.C., initially will own only railcars, and is actively acquiring railcars to grow the business and asset base. Kurt Higginbotham will serve as President of the joint venture and continue as the Vice President of RCI (a subsidiary of Appalachian Railcar Services, Inc. (ARS). As President, Mr. Higginbotham will handle the day-to-day operations of the fleet alongside Mark Jack, who will serve as the Executive Vice President. The joint venture will focus on building its fleet through acquisitions to provide the best-in-class service to its customer base and has the capacity to grow substantially to meet customer needs.
About Rail Connection, Inc.
Rail Connection, Inc. and ARS are multi-disciplinary rail service organizations serving customers throughout the mid-Atlantic, Northeast and Midwest regions. The companies offer an array of services that include railcar maintenance, repair, railcar storage, coal loading and unloading, track maintenance, fleet management, transloading and brokerage services. Appalachian Railcar Services, Inc., headquartered in Eleanor, West Virginia, owns and operates over 30 railcar maintenance and repair facilities throughout the United States. For more information, visit: www.apprailcar.com
About ITE Management L.P.
ITE Management L.P. is an investment advisor, founded by Jim Unger, David Smilow, and Jason Koenig, investing in industrial and transportation assets / companies, related industries and services with a critical focus on investments that generate current cash. The Firm’s investment strategies focus on broad macro-economic themes with the current fund targeting the railcar sector. The principals of the Firm are seasoned industry professionals in investments, investment management, banking, and railcar manufacturing / leasing with an average over 25 years of experience. For more information, visit: www.itemgmt.com
Appalachian Railcar Services, Inc.
Rail Connection, Inc.
ARS recently entered into an agreement with a Class 1 railroad to transload coil covers for railcars.
The covers are off-loaded from truck to temporary storage at ARS’ Warren, Ohio, facility, where they will be stored until later this year, awaiting arrival of coil cars.
There will be over 700 cars that will cycle through this operation.
This transloading operation is another example of the diversity of services that ARS can offer.
Thanks to all who participated in the coordination of this operation and making it a successful venture.Read More
Appalachian Railcar Services Inc. Chief Executive Officer Kurt Higginbotham poses with a plaque commemorating the company’s fifteenth anniversary. The company was founded in February of 2000.
All of the dedicated employees of ARS are appreciative of the leadership Kurt has demonstrated over the years and the teamwork that has made ARS a success!Read More
ELEANOR, W.Va. (AP) – Appalachian Railcar Services (ARS) recently acquired BRC Rail Car Services of Lynchburg Virginia. BRC will operate under a new division (Appalachian Tank Car) which was established for this acquisition.
With the addition of BRC Rail Car Services, ARS will double its size to more than 300 employees. An additional 100 employees are expected to be hired over the next three years. Appalachian Railcar Services was founded in the year 2000 and now has thirty-four (34) operations in fourteen (14) states. ARS provides maintenance/repair, storage, industrial switching and other rail-related services to a variety of industries.
Founded in 1972, BRC Rail Services is headquartered in Lynchburg, Virginia and has repair facilities located in Hinton, West Virginia and Elk Mills, Maryland. The three locations process 1,500 rail cars annually. BRC specializes in providing repair, cleaning and interior/exterior coating services primarily for industrial tank cars.Read More
ARS is proud to announce the latest services to be added to the company’s railcar maintenance capabilities at the Kingsport, TN facility. ARS can now offer exterior coatings for various freight cars, hoppers and gondolas.
Equipment includes a BCP Wheelabrator blast booth with full recovery system, BCP Wheelabrator downdraft climate controlled paint booth and cure booth.
The shop is served by both Norfolk Southern and CSX Class 1 railroads.
Please click here to contact ARS sales staff for further inquiries or information.Read More
ARS was recently awarded contracts for railcar repair for three Duke Energy/Duke Progress areas. ARS will continue providing railcar maintenance and repair for Duke Indiana’s four locations (Edwardsport, Gibson Station, Wabash Station and Cayuga Station). ARS will also provide same services for Duke Asheville NC and Duke Progress Crystal River FL facility.
The contract award will allow ARS to develop a footprint in the state of Florida.Read More