GRAND RAPIDS, Mich. – Private investment firm Auxo Investment Partners on Aug. 23 announced that it has acquired Cariboo Central Railroad Contracting, a Western Canada-based railroad construction service provider to Class I railroads, short-line railroads and industrial customers.
The addition, Auxo says, expands the company’s growing railroad infrastructure maintenance platform, under the Genesis Rail Services brand, following the acquisitions of Genesis Rail, a full-service railroad maintenance company, and Ferrovia Vegetation Management, a railroad vegetation management company.
Headquartered in Kelowna, British Columbia, Cariboo, which is Auxo’s first acquisition in the Canadian market, serves as a premier railroad infrastructure maintenance services provider throughout Western, Central and Northern Canada. Its diversified service offering includes a full range of track services, including new track construction, rail and tie changing, track inspection, rail, ballast and tie maintenance, snow removal, and emergency response services (derailments, fires, mechanical issues). Cariboo will continue to be managed locally by its current CEO, Clint Stibbard and General Manager, Bryson Gibson.
“We are extremely excited to bring Cariboo Rail into the Genesis Rail Services portfolio of businesses,” Genesis Rail Services President and CEO said Allen Blythe. “Cariboo will serve as a gateway for our platform’s expansion into the Canadian market and create numerous synergies for our growing U.S.-based platform and our customers. Cariboo Central Railroad Contracting has a long history of exceeding its customers’ needs while creating an atmosphere of excellence in safety and execution in all the work they perform. We look forward to working with their management team to continue developing a best-in-class full-service portfolio our customers can depend on to meet their ever-changing needs.”
“The addition of Cariboo expands our footprint into Canada and brings a veteran team of Canadian railroaders onto the Genesis team,” said Auxo Investment Partners Managing Partner Jeff Helminski. “It has been a pleasure getting to know the Cariboo team and we are excited to welcome them into the Auxo family.”