FOR IMMEDIATE RELEASE
GAR adds Pioneer Valley Railroad, an 18-mile short line, to its 711-mile system
JACKSONVILLE, Fla. – Gulf & Atlantic Railways, LLC (GAR) (www.garailways.com) today announced it has entered into a definitive agreement to acquire the rail assets of Pinsly Railroad Company (Pinsly). The transaction includes the 18-mile Pioneer Valley Railroad (PVRR) short line and Pinsly’s Railroad Distribution Services, Inc. (RDS), a rail-served warehousing and distribution business. The purchase is subject to regulatory approval.
PVRR runs from Westfield, Massachusetts to Holyoke, Massachusetts with interline access to two railroads – CSX and Pan Am Southern, and, together with RDS, serves more than 30 diversified customers. RDS operates two rail-served warehouses with 140,000 square feet of indoor storage and 3.5 acres of outdoor storage.
Referencing the transaction, Gulf & Atlantic Railways Chief Executive Officer Ryan Ratledge said, “PVRR and RDS are well-respected short line railroad and rail-served warehousing and distribution platforms, with an exceptional focus on safety, a fantastic team, and a diversified revenue base. The employees are talented, highly experienced professionals. We look forward to working with them to continue Pinsly’s track-record of safe, efficient rail and distribution service to customers and welcoming them to our growing team.”
John Levine, Pinsly Railroad Company’s Chief Executive Officer added, “We are very pleased to have reached an agreement to transition our Massachusetts business to GAR. Pinsly has a long-standing commitment to safety, service, business development and capital investment. We believe GAR will be a great steward of our business and that Pinsly will add to the already outstanding and growing GAR rail transportation infrastructure platform.”
As part of its strategic plan, GAR is focused on growth from existing customers and through acquisitions. Earlier this year, GAR acquired three short-line railroads in Ohio, Indiana, and Illinois.
Pinsly was advised by Northborne Partners.
About Gulf & Atlantic Railways
Gulf & Atlantic Railways currently owns and operates 5 regional and short line railroads serving six states. Headquartered in Jacksonville, Florida, GAR offers freight services, transloading, railcar storage and industrial development opportunities and is an important contributor to the local communities and economies in which it operates. www.garailways.com
Chief Administrative Officer
Gulf & Atlantic Railways
Phone: (207) 745-6077