Regional Rail on the verge of acquiring Carolina Coastal Railway Inc.
Written by RT&S Staff
Carolina Coastal Railway Inc., which is set to be acquired by Regional Railway, handles 180 miles of freight track in North and South Carolina.
Carolina Coastal Railway Inc.
Regional Rail is set to acquire Carolina Coastal Railway Inc. pending approval from the Surface Transportation Board. Regional Rail is owned by private equity firm 3i and operates short-line railroads and rail-related business in the U.S. Carolina Coastal Railway, Inc. handles 180 miles of freight track in North Carolina and South Carolina.
Carolina Coastal provides freight transportation and car-storage services to over 45 customers covering, among others, the aggregates, food and agriculture and chemicals and metals industries primarily in eastern North Carolina.
“Carolina Coastal is a great fit with Regional Rail as it benefits from an attractive mix of industrial customers and further diversifies our existing freight-rail platform from an end-market and geographic perspective,” said Regional Rail CEO Al Sauer.
“I had been looking for the right partner to continue our legacy in North Carolina and I am pleased that Carolina Coastal is becoming a part of the Regional Rail family,” said Carolina Coastal President Doug Golden.
3i invested in Regional Rail in July 2019 and expanded the platform in January 2020 with the acquisition of Pinsly Railroad Company’s Florida operations. The company provides freight transportation, railcar storage and transloading services in New York, Pennsylvania, Delaware and Florida across six railroads with over 360 miles of track connecting into a diversified Class 1 railroad network.
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