Related joint venture purchases short-liner; more could be on the way
Written by RT&S Staff
The joint venture BRX Transportation Holdings acquired Pioneer Railcorp.
Pioneer Railcorp
Related Companies wants to acquire more related subject matter … and that includes short-line railroad companies.
The New York-based developer, Brookhaven Rail Partners and Stephens Capital Partners are coming together to form a joint venture called BRX Transportation Holdings. The group acquired Pioneer Railcorp, a railroad holding company that owns short-line railroads and other railroad-related businesses.
BRX Transportation wants to grow, and the focus will be on industrial development and customer service. More short-line railroad companies could be in the JV’s cross hairs.
Pioneer, which operates in 12 states, gives BRX a diverse set of customers with a wide array of cargo from agriculture to finished products. As far as short lines go, it is a promising start.
“We look forward to this next chapter in Pioneer’s journey and anticipate it will have a bright future under new ownership,” said Mike Carr, president and CEO of Pioneer.
A few weeks ago Related announced a partnership with Uber to build the first skyport for the Uber Air network in the U.S. Uber Elevate will be the first aerial rideshare network in the world.
