M&A Deal Summary

Norfolk Southern Acquires TransWorks

On July 1, 2003, Norfolk Southern acquired business services company TransWorks from ChrysCapital

Acquisition Highlights
  • This is Norfolk Southern’s 1st transaction in the Business Services sector.
  • This is Norfolk Southern’s 1st transaction in India.

M&A Deal Summary

Date 2003-07-01
Target TransWorks
Sector Business Services
Buyer(s) Norfolk Southern
Sellers(s) ChrysCapital
Deal Type Add-on Acquisition

Target

TransWorks

Fort Wayne, India
Transworks is an offshore call centre providing high quality, cost-effective solutions to global customers. The Company has more than 3,000 employees across multiple locations in India.

Search 214,239 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 1

Buyer

Norfolk Southern

Atlanta, Georgia, United States

Category Company
Founded 1980
Sector Transportation
Employees19,600
Revenue 12.1B USD (2024)
DESCRIPTION
Norfolk Southern's corporate headquarters in Atlanta, Georgia.
Norfolk Southern's corporate headquarters in Atlanta, Georgia.

Norfolk Southern primarily engages in the rail transportation of raw materials, intermediate products, and finished goods primarily in the Southeast, East, and Midwest and, via interchange with rail carriers, to and from the rest of the United States. Norfolk Southern also transports overseas freight through several Atlantic and Gulf Coast ports and provides comprehensive logistics services through an extensive intermodal network in the eastern half of the United States. Norfolk Southern was formed in 1980 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 2 of 2
Sector: Business Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: India M&A 1 of 1
Year: 2003 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-01-01 Conrail

Philadelphia, Pennsylvania, United States

Conrail operates local rail freight service on behalf of its owners, CSX Corporation and Norfolk Southern Corporation, Conrail continues to provide safe and efficient rail service for many local rail freight customers in Detroit, New Jersey and Philadelphia.

Buy -

Seller(S) 1

SELLER

ChrysCapital

Port Louis, Mauritius

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 5.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ChrysCapital Management Co. is a private investment firm focused on opportunities in India. ChrysCapital looks for companies with revenues of $50 million to $1 billion and can commit up to $250 million of equity per transaction. Target sectors include business services, consumer goods and services, financial services, healthcare and pharmaceuticals. Prospective transactions include growth investments in private and listed companies, special situations, co-investments, and management buyouts/buy-ins. ChrysCapital was formed in 1999 and is based in Port Louis, Mauritius.


DEAL STATS #
Overall 2 of 32
Sector: Business Services M&A 2 of 5
Type: Add-on Acquisition M&A Deals 2 of 8
Country: India M&A 2 of 27
Year: 2003 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-04-17 TechTeam Global

Southfield, Michigan, United States

TechTeam provides outsourced enterprise technical help desk and related services to the Global 2000. The Company provides its outsourced services through a combination of onsite client dedicated facilities and offsite centralized operations. TechTeam currently does $150 million in annualized revenues and has 1,600 employees. The Company is listed on the NASDAQ.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-03 IVRCL

Hyderabad, India

IVRCL is a construction firm. The Company is a contractor in the water and sanitation segments TM and has developed expertise in the highway, power and building sectors. IVRCL was founded in 1987 and is based in Hyderabad, Telangana.

Buy -