Pinsly Railroad Company (2024)
| Formerly | Gulf & Atlantic Railways (2023-2024) RailUSA (2018-2023) |
|---|---|
| Industry | Rail transport |
| Founded | October 2018 |
| Headquarters | , United States |
Area served | Florida, Mississippi, Indiana, Illinois, Massachusetts, Ohio |
| Parent | Macquarie Infrastructure Partners |
| Subsidiaries | Florida Gulf & Atlantic Railroad Grenada Railroad Chesapeake & Indiana Railroad Camp Chase Railroad Vermilion Valley Railroad Pioneer Valley Railroad Hondo Railway |
| Website | [1] |
Pinsly Railroad Company is an American short line railroad holding company, that owns and operates 6 railroads in the United States. Formerly known as Gulf & Atlantic Railways, the company rebranded to Pinsly Railroad Company on March 1, 2024. Pinsly has a rail network of 767 miles.
History
[edit]The original Pinsly Railroad Company dated back to 1938 and is one of the oldest short-line holding companies in U.S. history. Today's Pinsly was founded as RailUSA in October 2018 by private equity firm Equity Group Investments.
RailUSA first purchased the Grenada Railroad from Iowa Pacific with plans to restore and re-open the 87-mile southern portion of the line, which had been closed since 2011. Another investment followed in 2019 with the purchase of Florida Gulf & Atlantic Railroad from CSX.[1][2]
In April 2022, RailUSA was purchased by Macquarie Infrastructure Partners.[3] On March 1, 2023, RailUSA announced they would relocate to Jacksonville, Florida, and change their name to Gulf & Atlantic Railways, showing focus on new growth.[4]
In May 2023, G&AR acquired 3 small railroads from Midwestern & Bluegrass Rail, the Camp Chase Railroad, Chesapeake & Indiana Railroad and Vermilion Valley Railroad, and increased its portfolio from two to five short lines.[5] In August 2023, Macquarie Infrastructure Partners reached an agreement with the Pinsly Railroad Company to acquire a 6th short-line, Pioneer Valley Railroad, through its subsidiary Gulf & Atlantic Railways.[6] This acquisition also included a warehousing company, Railroad Distribution Services. Towards the end of 2023, G&AR announced they would acquire the Northern Indiana Railroad Company (NIRC), which maintained the land assets of the Chesapeake & Indiana Railroad (CKIN).
In February 2024, G&AR announced they would seek to merge NIRC into the CKIN.[7] On May 1, 2024, the company rebranded to Pinsly Railroad Company. On August 20, 2024, they entered into a definitive agreement, subject to regulatory approval, to acquire Hondo Railway.[8]
Railroads
[edit]| Name | Mark | Class | Holding | Trackage | State(s) | Notes |
|---|---|---|---|---|---|---|
| Grenada Railroad | GRYR | III | Acquired - 2018a | 235.8 mi (379.5 km) | MS | |
| Florida Gulf and Atlantic Railroad | FGA | III | Acquired - 2019a | 438.1 mi (705.1 km) | FL | |
| Camp Chase Railway | CAMY | III | Acquired - May 2023a | 17.1 mi (27.5 km) | OH | |
| Chesapeake & Indiana Railroad | CKIN | III | Acquired - May 2023a | 34.9 mi (56.2 km) | IN | |
| Vermilion Valley Railroad | VVRR | III | Acquired - May 2023a | 9.3 mi (15.0 km) | IN/IL | |
| Pioneer Valley Railroad | PVRR | III | Acquired - Aug. 2023a | 27 mi (43 km) | MA | |
| Hondo Railway | HRR | III | Acquired - Aug 2024a | 5 mi (8.0 km) | TX |
References
[edit]- ^ Our Company Gulf & Atlantic Railways
- ^ Florida Gulf Atlantic Railroad, Acquisition and Operation Exemption with interchange Federal Register December 21, 2018
- ^ Australian infrastructure fund to acquire RailUSA Trains November 29, 2021
- ^ https://www.railwayage.com/freight/short-lines-regionals/for-railusa-new-name-new-phase-of-growth/ [bare URL]
- ^ https://www.railwayage.com/freight/short-lines-regionals/gar-to-acquire-three-more-small-roads/?RAchannel=home [bare URL]
- ^ "Macquarie Infrastructure Partners to acquire Massachusetts short line". Trains News Wire. August 29, 2023. Retrieved August 29, 2023.
- ^ https://www.railwayage.com/freight/short-lines-regionals/ckin-nird-seek-to-merge/?RAchannel=home [bare URL]
- ^ "Hondo Railway to be Acquired by Short Line Operator Pinsly Railroad". Texas Rail Advocates. August 28, 2024. Retrieved September 7, 2024.
External links
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- United States railroad holding companies
- Companies based in Boca Raton, Florida
- American companies established in 2018
- Railway companies established in 2018
- 2018 establishments in Florida
- 2021 mergers and acquisitions
- Private equity portfolio companies
- Privately held companies based in Florida
- United States railway company stubs