Marmon Holdings, Inc. is acquiring Transco Railway Products Inc., a railcar repair business with operations across the northern U.S., from Transco Inc.
Financial terms were not disclosed as of the May 13 announcement.
Chicago-based Transco Railway Products provides railroad tank car and freight car repair and maintenance, auto-rack certification and hopper car cleaning services at seven repair shops located throughout the Great Lakes region, Iowa and Montana, officials said.
Transco Railway Products also provides components to the freight car industry from a fabrication site in Ohio. The company has been around since 1936, when it was founded as a provider of replacement parts for railcars, a statement said.
The company will continue to operate as Transco Railway Products within Marmon’s Rail & Leasing sector.
Officials said Marmon Holdings, Inc.’s companies provide railroad tank car manufacturing, leasing and repair services; intermodal tank containers; in-plant rail switching and loading/unloading services; track installation and maintenance services; and steel tank heads and cylinders for markets including transportation, energy, chemical, petrochemical and agricultural.
Marmon’s Railcar Repair Services group offers the largest railroad tank car repair and maintenance network in North America.
“We are excited to acquire a company with such a solid reputation in the railcar repair arena,” said Bill Merrill, president of Marmon Railcar Repair Services. “Our goal is to leverage Marmon’s resources to help Transco Railway Products expand its business in both freight and tank car repair.”
Bob Nelson, president of Transco Railway Products, will continue to lead the business.
“We have significantly invested in our repair network over the past several years, allowing us to grow,” Nelson said. “With Marmon’s backing, we look forward to further growth to better serve our existing and new customers.”
Marmon Rail & Leasing is part of Marmon Holdings, a global industrial organization with 10 business sectors and more than 100 autonomous manufacturing and service businesses with revenues of more than $8.1 billion in 2018.
Marmon Holdings is a Berkshire Hathaway company.