Hallcon Corporation acquired by Southfield Capital Advisors

Southfield Capital Advisors, a private investment firm focused on the lower middle-market, has acquired majority ownership of Hallcon Corporation. Hallcon is a leading provider of specialty outsourced services to the railway and transit sectors in North America. Hallcon's senior management team will continue in their current roles and will maintain a minority ownership position in the company. Additional terms of the transaction were not released. Founded in 1954 and headquartered in Toronto, Ontario, Hallcon provides rail operators with a complete outsourced solution for their crew transportation operations. In addition to the actual ground transportation, Hallcon manages its customers' trip booking, dispatching, billing and reporting through the use of the Company's proprietary software platform. Hallcon has established a dominant share in the Canadian crew transportation market and was recently awarded its first national contract to provide and administer crew transportation in the United States. Tony Plut, president and CEO of Hallcon, said, "When selecting a partner, the Hallcon management team was focused on identifying a firm that could provide the operational, strategic and financial support to best position the company for future success. In addition to helping us manage our current growth, we believe Southfield Capital will help us identify and pursue new opportunities and assist us in implementing best practices across the entire platform. In collaboration, we expect to be able to continue on our exciting growth path and to fortify our industry leading position in North America." Southfield Capital Operating Partner Vince Tyra said, "We are excited to have the opportunity to invest alongside such a talented management team with a proven track record and an unrelenting drive to make Hallcon a best-in-class provider of rail services in North America. Southfield Capital firmly believes that Hallcon is the ideal platform to take advantage of the favorable macroeconomic trends within the North American rail industry, which include considerable private and public investment towards freight and commuter rail."