Patriot Rail Company LLC Finalizes Acquisition of Salt Lake Garfield & Western Railway
JACKSONVILLE, Fla. and SALT LAKE CITY, Jan. 4, 2021 /PRNewswire/ -- Patriot Rail Company LLC (Patriot), a leading U.S. operator of short line and regional freight railroads, rail services, and integrated port logistics companies, today announced it has finalized the acquisition of short line operator Salt Lake Garfield & Western Railway (SLGW) and its related entities Caballero LLC and Caballero 2 LLC, storage and transload service providers. The SLGW represents the first bolt-on acquisition by Patriot since First Sentier Investors (FSI), a leading global investor in infrastructure, acquired Patriot in October 2019.
"The SLGW has been a long-trusted railroad in the Salt Lake City area for more than 125 years. We are proud to carry that legacy forward for our customers," said John Fenton, CEO of Jacksonville-based Patriot. "This addition to the Patriot portfolio strengthens our ability to continue providing competitive and innovative transportation solutions in the western region of the United States."
SLGW currently handles more than 6,000 loaded railcars annually within its 26-mile line. Its location, in the heart of Salt Lake City's industrial corridor, is at the center of the region's logistics. Neighboring the recently redeveloped and expanded Salt Lake International Airport, the line runs adjacent to two major interstates and connects with the Union Pacific Railroad and BNSF Railway.
The state of Utah supports several business growth initiatives including a Mega Site Program and an inland port authority and district comprising over 4,000 acres of developable land, known as the Northwest Quadrant. "It's an exciting time for us," stated Fenton. "With the SLGW, we look forward to working with customers, state and local leaders, and other key stakeholders to support future growth."
About Patriot Rail & Ports
Patriot Rail Company operates 13 regional and freight short line railroads, a scenic rail excursion train, and three rail-related services companies with over 600 total rail miles across the United States. Patriot Port Holdings operates five breakbulk and container terminals and an off-port cold storage facility, all located in the Southeastern region of the United States. Patriot Rail & Ports is owned by Sydney, Australia-based First Sentier Investors, which manages US $157 billion in global assets (as of September 30, 2020).
https://patriotrailandports.com/
www.firstsentierinvestors.com
SOURCE Patriot Rail Company LLC
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