Patriot Rail to acquire Pioneer Lines from BRX Transportation Holdings
Patriot Rail LLC has entered into an agreement to acquire Pioneer Lines from BRX Transportation Holdings.
Pioneer Lines, a Denver-based company, owns and operates 15 short-line railroads across 12 states in the USA.
The acquisition is subject to regulatory authorization. Once complete, Patriot Rail's portfolio will expand from 16 short lines to 31 short lines enabling the company to serve customers located in the states of Alabama, Arkansas, Georgia, Illinois, Indiana, Iowa, Kansas, Michigan, Mississippi, Ohio, Pennsylvania, and Tennessee.
RBC Capital Markets acted as a financial adviser and Winston & Strawn provided legal advice to Patriot Rail. Northborne Partners acted as a financial adviser while Fried Frank and Arnold & Porter served as legal advisors to Pioneer Lines and BRX.
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