M&A Deal Summary

Cathcart Rail Acquires Appalachian Railcar Services

On December 15, 2020, Cathcart Rail acquired transportation company Appalachian Railcar Services from GenNx360 Capital Partners

Acquisition Highlights
  • This is Cathcart Rail’s 1st transaction in the Transportation sector.
  • This is Cathcart Rail’s 1st transaction in the United States.
  • This is Cathcart Rail’s 1st transaction in West Virginia.

M&A Deal Summary

Date 2020-12-15
Target Appalachian Railcar Services
Sector Transportation
Buyer(s) Cathcart Rail
Sellers(s) GenNx360 Capital Partners
Deal Type Add-on Acquisition
Advisor(s) Harris Williams (Financial)
Morrison Cohen (Legal)

Target

Appalachian Railcar Services

Eleanor, West Virginia, United States
Appalachian Railcar Services, Inc. is a provider of railcar repair services and a provider of industrial logistics services including certified tank and freight car repair, railcar cleaning, coating and lining services, mobile repair, on-site customer repair operations, switching operations, and railcar storage.

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Buyer(S) 1

Buyer

Cathcart Rail

Bucyrus, Ohio, United States

Category Company
Founded 2015
Sector Transportation
DESCRIPTION

Cathcart Rail is a diversified freight rail service and transportation company with operations across two main divisions employing nearly 800 people across 60 locations in 22 states. Cathcart Rail was founded in 2015 and is based in Bucyrus, Ohio.


DEAL STATS #
Overall 1 of 1
Sector: Transportation M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: West Virginia M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2020 M&A 1 of 1

Seller(S) 1

SELLER

GenNx360 Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GenNx360 Capital Partners is a private equity firm focused on acquiring mid-sized US-based businesses. GenNx360 targets companies with revenues between $50 and $500 million and $5 to $35 million of EBITDA. The Firm looks to invest $25 to $100 million per transaction. Specific areas of interest include industrial water treatment, specialty chemicals/engineered materials, industrial machinery/equipment components, agriculture products and services, global transportation component parts, aerospace/defense, oil/gas services and business services. GenNx360 Capital Partners was formed in 2006 and is based in New York, New York.


DEAL STATS #
Overall 10 of 17
Sector: Transportation M&A 1 of 2
Type: Add-on Acquisition M&A Deals 5 of 9
State: West Virginia M&A 1 of 1
Country: United States M&A 9 of 15
Year: 2020 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-08 B2B Industrial Packaging

Addison, Illinois, United States

B2B Industrial Packaging offers a full range of packaging supplies and equipment, including strapping, stretch film, corrugated, and fasteners, as well as tool repair services, to more than 6,000 active clients across a wide variety of end markets. B2B Industrial Packaging was founded in 2004 and is based in Addison, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-01 Syncreon

Cloghran, Ireland

Syncreon is an asset-light global logistics company that facilitates the integration of customers’ supply chains and the final delivery of finished products to their end customers.

Sell $1.2B