M&A Deal Summary

Progress Rail Acquires Electro-Motive Diesel

On June 1, 2010, Progress Rail acquired transportation company Electro-Motive Diesel from Greenbriar Equity Group and Berkshire Partners for 820M USD

Acquisition Highlights
  • This is Progress Rail’s 1st transaction in the Transportation sector.
  • This is Progress Rail’s largest (disclosed) transaction.
  • This is Progress Rail’s 2nd transaction in the United States.
  • This is Progress Rail’s 1st transaction in Illinois.

M&A Deal Summary

Date 2010-06-01
Target Electro-Motive Diesel
Sector Transportation
Buyer(s) Progress Rail
Sellers(s) Greenbriar Equity Group
Berkshire Partners
Deal Type Add-on Acquisition
Deal Value 820M USD

Target

Electro-Motive Diesel

Lagrange, Illinois, United States
Electro-Motive Diesel designs, manufactures, and sells diesel-electric locomotives for the commercial railroad applications in the United States and internationally. The company provides railway transport and diesel engine solutions for intercity passenger, commuter, switching, freight, industrial, and mining applications. It also provides diesel power engines for marine propulsion, offshore and land based oil well drilling rigs, and stationary power generation, as well as OEM parts and services for rail, marine, and power generation applications.

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Buyer(S) 1

Buyer

Progress Rail

Albertville, Alabama, United States

Category Company
Founded 1982
Sector Machinery
Employees8,000
DESCRIPTION

Progress Rail is a provider of rail and transit products and services throughout North America.


DEAL STATS #
Overall 2 of 6
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (Illinois) 1 of 1
Country (United States) 2 of 4
Year (2010) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-07 FCM Rail

Fenton, Michigan, United States

FCM Rail Ltd.,specializes in MOW leasing, total equipment solutions with warehouse leasing and short- and long-term equipment rentals. Its extensive equipment portfolio includes tampers, ballast regulators, spikers, spike pullers, anchor applicators, track stabilizers, undercutters and various other railroad and track maintenance equipment.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-28 Rail Product Solutions

Overland Park, Kansas, United States

Rail Product Solutions, Inc. (RPS) is a North American provider of mission critical track fastening products and integrated fastening systems. The RPS product line provides fundamental components for the rail infrastructure, playing a crucial role in enhancing reliability and minimizing track downtime.

Buy -

Seller(S) 2

SELLER

Greenbriar Equity Group

Rye, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Greenbriar Equity Group is a specialized private equity firm focused on investing in the global transportation and advanced manufacturing industries. Companies of interest include traditional carriers, such as railroads, cruise lines, airlines, air freight, shipping, and trucking, as well as ancillary manufacturers and service companies that support the transportation industry. Greenbriar will consider making majority as well as minority investments through a variety of structures, including leveraged buyouts, recapitalizations, growth capital investments, corporate joint ventures and privatizations. The Firm targets businesses valued from $100 million to $1 billion. Greenbriar Equity was formed in 1999 and is based in Rye, New York.


DEAL STATS #
Overall 3 of 26
Sector (Transportation) 1 of 10
Type (Add-on Acquisition) 2 of 12
State (Illinois) 1 of 2
Country (United States) 3 of 22
Year (2010) 2 of 2
Size (of disclosed) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-21 ATD

Huntersville, North Carolina, United States

ATD is one of the largest independent suppliers of tires to the replacement tire market. It operates more than 130 distribution centers, including 24 distribution centers in Canada, serving approximately 80,000 customers across the U.S. and Canada. ATD was established in 1935 and is based in Huntersville, North Carolina.

Sell $1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-25 GENCO Distribution System

Pittsburgh, Pennsylvania, United States

GENCO Supply Chain Solutions is a provider of logistics services and the recognized leader in reverse logistics. The company manages 112 operations and 37 million square feet of warehouse space throughout North America for a diverse range of retail, manufacturing and government customers, including many Fortune 500 companies.

Buy -
SELLER

Berkshire Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Berkshire Partners is a private equity firm focused on investing in businesses with strong management and that lead their respective markets. Berkshire will consider investments in both public and private companies. Prospective transactions for private companies include leveraged buyouts, recapitalizations, growth capital financings, and privatizations. Public company transactions include take-privates, PIPEs, and equity stakes. Berkshire generally looks to invest $150 to $500 million of equity capital per transaction in companies valued up to $2 billion. Sectors of interest include industrial manufacturing, consumer products, retailing, transportation, communications and business services. Berkshire Partners was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 27 of 61
Sector (Transportation) 2 of 3
Type (Add-on Acquisition) 10 of 20
State (Illinois) 2 of 4
Country (United States) 24 of 52
Year (2010) 2 of 5
Size (of disclosed) 7 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-26 Skillsoft

Nashua, New Hampshire, United States

Skillsoft provides cloud-based learning solutions for its customers worldwide, ranging from global enterprises, government, and education to mid-sized and small businesses. Skillsoft's customer support teams draw on a wealth of in-house experience and a comprehensive learning e-library to develop off-the-shelf and custom learning programs tailored to cost-effectively meet customer needs. Skillsoft was formed in 1998 and is based in Nashua, New Hampshire.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-17 UBC

Blue Bell, Pennsylvania, United States

UBC engages in the biopharmaceutical market which provides integrated clinical, safety, and commercialization services. UBC brings together renowned scientific research and operations experts with innovative technologies, allowing for the best patient and healthcare provider experience. UBC was founded in 2003 and is based in Blue Bell, Pennsylvania.

Sell $730M