North American Rail Solutions acquires Condor Signals and Communications in Ontario, Canada

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Apr 09, 2024, 08:00 ET

FORT WORTH, Texas, April 9, 2024 /PRNewswire/ -- North American Rail Solutions, through its Canadian subsidiary, Universal Rail Systems, is proud to announce that it has acquired Condor Signals and Communications in Oakville, Ontario, CA. North American Rail Solutions is the largest provider of industrial rail services in North America and this acquisition further expands its signals & communications capabilities in Canada and into the United States.

Condor, a well-respected provider of rail signals & communications services across North America, will operate as part of the Universal Rail signals group and maintain its offices in Oakville, Ontario. In addition, Condor will continue to provide high quality manufactured products such as rail switch heaters, bungalows, and racking systems under the "Condor" tradename.

Tim McMillan, President & Chief Operating Officer of Universal Rail Systems stated: "We are thrilled to have Condor join our Signals team and look forward to continuing to grow together. This acquisition also adds a line of quality Condor signals products, now available to our customers across Canada." Thomas Lucario, CEO of North American Rail Solutions added; "Adding Condor to our Universal Rail Systems portfolio expands our signals capabilities not only in Canada, but into the US markets as well. It is an example of our ongoing commitment to growth and support to our customers across North America."

When asked about the transaction, Condor's outgoing owner, Maggie DiPede-Sullivan said: "When reflecting on the transition of Condor, I feel a deep sense of joy and pride. Entrusting the future of Condor to a distinguished member of the rail supply industry fills me with confidence. It's not just about passing on the baton; it's about ensuring a prosperous future for our dedicated employees and the business that has been a significant part of my and my late husband's (Michael Sullivan) life." Learn more at www.condorsignal.com.

North American Rail Solutions
In 2021, DFW Capital Partners partnered with the management team of American Track through acquisition and established the parent company, North American Rail Solutions. Operating from 25 full-service offices strategically located in the U.S. and Canada, North American Rail Solutions provides mission-critical services to its customers that ensure the safety, compliance, and operability of onsite railway assets. North American Rail Solutions serves a wide range of industries, including manufacturing, petrochemical, mining, agricultural products, food and beverage, basic raw materials, ports, transload facilities, transit, Class 1 and short-line railroads. www.NorthAmericanRailSolutions.com

Universal Rail Systems
Headquartered in Edmonton, Alberta, Universal Rail Systems is the leading independent provider of turnkey railroad construction, repair, maintenance, inspection, and terminal services for critical rail infrastructure at industrial, class 1, government, and transit sites in Canada. Universal Rail Systems focuses on keeping Canadian railway operators in motion safely and sustainably. www.UniversalRail.com

DFW Capital Partners
DFW Capital Partners is a private equity investment firm focused on lower middle-market companies. With ~$2 billion under management, the firm concentrates on service companies, with an emphasis on outsourced business and industrial support services, and healthcare companies. DFW has established a 20+ year track record of success in building leading companies and recognizing attractive returns for its investors. DFW is headquartered in New York, NY and maintains an office in Chevy Chase, MD. Additional information is available on DFW's website at www.DFWCapital.com.

SOURCE North American Rail Solutions