M&A Deal Summary

Watco Acquires The Dow Chemical - Rail Assets

On July 6, 2020, Watco acquired transportation company The Dow Chemical - Rail Assets from Dow

Acquisition Highlights
  • This is Watco’s 1st transaction in the Transportation sector.
  • This is Watco’s 2nd transaction in the United States.
  • This is Watco’s 1st transaction in Michigan.

M&A Deal Summary

Date 2020-07-06
Target The Dow Chemical - Rail Assets
Sector Transportation
Buyer(s) Watco
Sellers(s) Dow
Deal Type Divestiture

Target

The Dow Chemical - Rail Assets

Michigan, United States
The Dow Chemical Co. - Rail Assets comprises rail infrastructure assets and related equipment at six major North American sites.

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Buyer(S) 1

Buyer

Watco

Pittsburg, Kansas, United States

Category Company
Founded 1983
Sector Transportation
DESCRIPTION

Watco is a transportation company providing transportation, terminal and port, mechanical, and supply chain services for customers throughout North America and Australia. Watco’s Transportation Services group is one of the largest short-line rail transportation service providers in the U.S. and Australia. Watco’s Terminal and Port Services group operates throughout the U.S. and Mexico. Watco’s Mechanical Service group has one of the largest rail car repair shop networks in North America, and Watco Supply Chain Services group provides supply chain services in the highway, intermodal, rail logistics, and international logistics.


DEAL STATS #
Overall 2 of 2
Sector (Transportation) 1 of 1
Type (Divestiture) 1 of 1
State (Michigan) 1 of 1
Country (United States) 2 of 2
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-01 Millennium Rail

Westchester, Illinois, United States

Millennium Rail, Inc. is a provider of repair and maintenance services to the rail industry providing services such as fleet management, general repair and maintenance, specialty freight car manufacturing and program work.

Buy -

Seller(S) 1

SELLER

Dow

Midland, Michigan, United States

Category Company
Founded 2018
Sector Chemicals
Employees37,800
Revenue 44.6B USD (2023)
DESCRIPTION
Dow Chemical's corporate headquarters in Midland, Michigan.
Dow Chemical's corporate headquarters in Midland, Michigan.

Dow produces specialty chemicals, advanced materials, agrosciences, and plastics and delivers a range of technology-based products and solutions to customers in sectors that include packaging, electronics, water, coatings, and agriculture. Dow was founded in 2018 and is based in Midland, Michigan.


DEAL STATS #
Overall 17 of 18
Sector (Transportation) 1 of 1
Type (Divestiture) 14 of 15
State (Michigan) 5 of 6
Country (United States) 13 of 14
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-13 The Dow Chemical - Acetone Derivatives Business

Midland, Michigan, United States

The Dow Chemical Co. - Acetone Derivatives Business manufactures Ketones and Carbinols, used primarily in the coatings, adhesive and pharmaceutical industries. It is the largest North American production facility of its kind.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-02 Dow - Packaging & Specialty Plastics segment

Midland, Michigan, United States

Dow's Packaging & Specialty Plastics segment includes Solvent-Based and Solventless Laminating Adhesives and Heat Seal Coating product portfolios. Dow's Packaging & Specialty Plastics segment is based in Midland, Michigan.

Sell $150M