WASHINGTON — Star America Infrastructure Fund GP II and Star America Rail Holdco have taken a controlling interest in Cathcart Rail, the Ohio-based company that operates a trio of short lines and is the largest independent operator of freight car repair shops in the U.S.
Cathcart’s short lines include the 5-mile Bucyrus Industrial Railroad in Ohio; the Belpre Industrial Parkersburg Railroad, which operates 49 miles of track in Ohio and West Virginia; and the Cornhusker Railroad, which operates 22 miles of track in the Grand Island, Neb., area, and 5 miles of track in Hastings, Neb.
Star America disclosed the deal in a May 2 regulatory filing with the Surface Transportation Board. The funds are part of Tikehau Star Infra, a New York-based developer and manager of infrastructure assets in North America.
Cathcart Rail was founded in February 2016 by the father and son team of Thomas Cathcart and Casey Cathcart with 20 employees. It now employs nearly 1,000 people across more than 110 locations in 33 states, according to the company’s website.
In addition to the three short line railroads, Cathcart operates 18 repair facilities and more than 75 field services locations. The company’s rail services division also operates a dozen contract switching and transloading sites and offers railcar storage, track maintenance and railcar parts.
Star America had previously disclosed a $150 million stake in Cathcart Rail.
