Bernhard Capital Companions Administration is the brand new proprietor of RailWorks Corp., a observe building and upkeep companies supplier; it accomplished the acquisition from Wind Level Companions on Nov. 10.
Bernhard Capital, a private-equity administration agency, first introduced the deal on Sept. 30.
RailWorks’ President and CEO Kevin Riddett and the manager group will stay with the corporate, which includes PNR Railworks, a observe building, rehabilitation and upkeep firm in Canada; LK Comstock, a transit rail methods specialty electrical contractor; and NARSTCO, a producer of metal crossties and turnout crosstie units that RailWorks acquired in 2018.
“We’re excited concerning the alternatives forward with RailWorks, and look ahead to supporting the corporate’s best-in-class rail infrastructure options,” stated Jim Bernhard, a accomplice at Bernhard Capital. “Our funding in RailWorks is an thrilling alternative for us to accomplice with the main supplier of upkeep and building companies within the rail area, and comes at a crucial time given the latest passing of the Infrastructure Funding and Jobs invoice.”
“We’re happy that the transaction has closed,” Riddett stated. “As a well-respected trade chief for specialty building and upkeep companies, we’re excited to proceed our development. We are going to help the increasing rail infrastructure wants of North America and consider Bernhard Capital’s experience will make priceless contributions to our efforts.”