OmniTRAX affiliate purchasing Heart of Texas Railroad
Written by Mischa Wanek-Libman, editor
JCF Bridge and Concrete, Inc.
The Heart of Texas Railroad (HTR) is being acquired by a managed affiliate of OmniTRAX, Inc., an affiliate of The Broe Group.
The HTR acquisition is subject to Surface Transportation Board approval and will be renamed Central Texas & Colorado River Railway, LLC.
The 68-mile line runs due west from Lometa, Texas, where it interchanges with BNSF, to Brady, Texas. Potential new customers include an aggregate quarry, a cement factory and frac sand producers.
“The Central Texas & Colorado River Railway is a great opportunity for OmniTRAX with at least three good long-term mineral prospects on the line. As a distressed asset that can be turned around with our expertise, it’s right in our sweet spot,” said Kevin Shuba, CEO of OmniTRAX. “We want to thank the sellers for their efforts in starting to implement a restructuring plan and making the closing of the transaction as smooth as possible.”
