TorQuest Partners, in partnership with a group of co-investors, has acquired a majority interest in A&B Rail Services Ltd., a national railway services company based in Edmonton, AB, Canada.
Founded in 1965, A&B Rail is a supplier of railway maintenance, new track construction, rehabilitation and emergency services on main and secondary lines. It also provides specialized track services, as well as light-rail transit construction, maintenance, signals and communication support. A&B Rail has approximately 600 employees and operations in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario.
TorQuest and its co-investors acquired the majority interest in A&B Rail from Fulcrum Capital Partners. A&B Rail’s President Paul Brum and all members of the senior management team will continue to hold a significant equity interest in the company.
Eric Berke, managing partner at TorQuest, said, “A&B Rail has established a leading position in the critical rail services area. We look forward to working with Paul and the company’s highly experienced management team to continue its aggressive growth in these markets across Canada.”
“This is an exciting development for A&B Rail, our employees and customers”, said Brum. “We are moving forward with a group of investors that see tremendous opportunity in railway services in North America. TorQuest brings financial strength, business and governance expertise and a commitment to continued profitable growth, both organically and through acquisitions. They share our vision of A&B Rail becoming a North American leader in safety, quality and performance by investing in our people and maintaining a sharp focus on superior customer service.”
TorQuest will augment the company’s board of directors with specific skills and experience in finance, business development (national and international), Class 1 rail track and signals, rail construction, track and signal maintenance, railway operations, general contracting, engineering and infrastructure development. There will be no changes to the company’s day-to-day operations as a result of this transaction.