RailAmerica
From Wikipedia, the free encyclopedia
RailAmerica, Inc., based in Jacksonville, Florida, was a holding company of a number of short-line railroads and regional railroads in the United States and Canada.
Company type | Private |
---|---|
Industry | Rail transport |
Founded | 1986 |
Fate | Acquired by Genesee & Wyoming in 2012 |
Successor | Genesee & Wyoming Inc. |
Headquarters | , |
Services | Short line and regional railroads |
Revenue | US$410.6 million (2009)[1] |
In 2007, RailAmerica was acquired by Fortress Investment Group. Before that, it traded on the New York Stock Exchange with the ticker symbol RRA.[2] It was relisted in October 2009 with the ticker symbol RA.
On June 30, 2010, the company announced that it had acquired Atlas Railroad Construction, a construction and maintenance company operating in the Northeast and Midwest United States, for US$24 million.[3]
In April 2011, RailAmerica made its first shortline purchase in over five years by initiating a deal with Gulf and Ohio Railways to acquire three Alabama shortlines for $12.7 million.[4]
On July 23, 2012, Genesee & Wyoming Inc. announced that it intended to purchase RailAmerica in a deal valued at $1.39 billion.[5][6] Approval of the purchase was granted by the U.S. Surface Transportation Board on December 19, 2012.[7] While awaiting the decision, Genesee & Wyoming put RailAmerica control in the hands of a trust.[8] They assumed control on December 28, 2012, and the company was in the process of integration to G&W.[9][10]