JACKSONVILLE, Fla. — Short line operator and rail services company Patriot Rail will acquire rail holding company Pioneer Lines, nearly doubling Patriot Rail’s operations to 31 railroads.
Patriot Rail, which currently operates 16 railroads freight railroads in 14 states, will add 15 in 12 states, expanding into Alabama, Arkansas, Georgia, Illinois, Indiana, Iowa, Kansas, Michigan, Mississippi, Ohio, Pennsylvania, and Tennessee.
Patriot Rail also operates Georgia’s Blue Ridge Scenic Railway, as well as tank car cleaning, transloading, contract switching, and railcar storage, among other services.“Pioneer Lines is a diverse rail company with talented professionals and deep customer relationships,” Patriot Rail CEO John E. Fenton said in a press release. “Pioneer Lines’ safety culture and focus on operational excellence aligns directly with Patriot Rail’s vision and mission. These synergies position us to continue to exceed customer expectations as a best-in-class rail partner to meet their freight shipment and logistics needs.”
Pioneer CEO Alex Yaros, also principal of Brookhaven Capital Partners, said he is “excited by the potential this acquisition brings to Pioneer’s customers and employees. … Our team is looking forward to the opportunity to grow with Patriot to provide the improved efficiency and reach of a larger platform, with the personalized care, flexible local service, and deep industry expertise that Pioneer is known for.”
The acquisition is subject to regulatory approval.
More information on Patriot Rail, including a full list of its railroads, is available at the company’s website. More on Pioneer, including its current rail operations, is available at the Pioneer website.
Hey Brian – there is rail underneath that loco, isn’t there?
The difference between a Short Line and a Class 1 Railroads is They have to wait for the Bigger Railroads to Get Paid before there Paycheck comes in
Patriot Rail is a flipper. Pioneer has a lot of barely marginal lines that in many cases need local or state grants just to get ties and ballast. So unless Patriot is looking to invest some capital, this looks more like a “we need a place to store more cars” play.