RailAmerica

Last updated
RailAmerica, Inc.
Company typePrivate
Industry Rail transport
Founded1986
FateAcquired by Genesee & Wyoming in 2012
Successor Genesee & Wyoming Inc.
Headquarters,
Services Short line and regional railroads
RevenueUS$410.6 million (2009) [1]

RailAmerica, Inc., based in Jacksonville, Florida, was a holding company of a number of short-line railroads and regional railroads in the United States and Canada.

Contents

In 2007, RailAmerica was acquired by Fortress Investment Group. Before that, it traded on the New York Stock Exchange with the ticker symbol RRA. [2] It was relisted in October 2009 with the ticker symbol RA.

On June 30, 2010, the company announced that it had acquired Atlas Railroad Construction, a construction and maintenance company operating in the Northeast and Midwest United States, for US$24 million. [3]

In April 2011, RailAmerica made its first shortline purchase in over five years by initiating a deal with Gulf and Ohio Railways to acquire three Alabama shortlines for $12.7 million. [4]

On July 23, 2012, Genesee & Wyoming Inc. announced that it intended to purchase RailAmerica in a deal valued at $1.39 billion. [5] [6] Approval of the purchase was granted by the U.S. Surface Transportation Board on December 19, 2012. [7] While awaiting the decision, Genesee & Wyoming put RailAmerica control in the hands of a trust. [8] They assumed control on December 28, 2012, [9] and the company was in the process of integration to G&W. [10] [11]

Former subsidiaries

RailAmerica controlled the following railroads. It acquired some through purchase of other holding companies: RailLink Canada in July 1999, RailTex in February 2000, ParkSierra and StatesRail in January 2002, and the rail properties of Alcoa in September 2005.

In addition to those listed below, RailAmerica's prior owner, Fortress Investment Group, purchased the Florida East Coast Railway (FEC) in September 2007 from Florida East Coast Industries. Although Fortress maintained a level of common control between the two railroads, FEC was never made a formal part of the RailAmerica family, and Fortress did not include FEC in the RailAmerica spinoff.

RailAmerica was founded by Gary O. Marino and John H. Marino in 1986.

CompanyAcquired fromDate [12] Notes
Alabama and Gulf Coast Railway StatesRail [13] January 2002
Arizona and California Railroad ParkSierra [14] January 2002
Bauxite and Northern Railway Alcoa [15] September 2005
California Northern Railroad ParkSierra [14] January 2002
Cape Breton and Central Nova Scotia Railway RailTex [16] February 2000
Carolina Piedmont Railroad RailTex [17] February 2000
Cascade and Columbia River Railroad direct [18] September 1996
Central Michigan Railway directJanuary 2004Leased by Huron and Eastern Railway
Central Oregon and Pacific Railroad RailTex [17] February 2000
Central Railroad of Indiana RailTex [17] February 2000
Central Railroad of Indianapolis RailTex [17] February 2000Also operates Winamac Southern Railway as agent
Chesapeake and Albemarle Railroad RailTex [17] February 2000
Chicago, Fort Wayne and Eastern Railroad direct [19] July 2004
Connecticut Southern Railroad RailTex [17] February 2000
Dallas, Garland and Northeastern Railroad RailTex [17] February 2000
Eastern Alabama Railway StatesRail [20] January 2002
Goderich-Exeter Railway RailTex [16] February 2000
Grand Rapids Eastern Railroad RailTex [17] February 2000
Huron and Eastern Railway directMarch 1992
Indiana and Ohio Railway RailTex [17] February 2000
Indiana Southern Railroad RailTex [17] February 2000
Kiamichi Railroad direct [21] January 2002
Kyle Railroad StatesRail [20] January 2002
Lahaina, Kaanapali and Pacific Railroad StatesRail [12] January 2002
Marquette Rail direct [22] February 2012
Massena Terminal Railroad Alcoa [15] September 2005
Michigan Shore Railroad RailTex [17] February 2000
Mid-Michigan Railroad RailTex [17] February 2000
Missouri and Northern Arkansas Railroad RailTex [17] February 2000
New England Central Railroad RailTex [17] February 2000
North Carolina and Virginia Railroad RailTex [17] February 2000
Ottawa Valley Railway RaiLink [12] July 1999
Otter Tail Valley Railroad direct [23] October 1996
Point Comfort and Northern Railway Alcoa [15] September 2005
Puget Sound and Pacific Railroad ParkSierra [14] January 2002
Raillink Canada LimitedDirectJanuary 2002Registered office in Montreal
Rockdale, Sandow and Southern Railroad Alcoa [15] September 2005
San Diego and Imperial Valley Railroad RailTex [17] February 2000
San Joaquin Valley Railroad StatesRail [20] January 2002
South Carolina Central Railroad RailTex [17] February 2000
Southern Ontario Railway RaiLink [12] July 1999
Texas Northeastern Railroad RailTex [17] February 2000
Toledo, Peoria and Western Railway direct [24] September 1999
Ventura County Railroad direct [25] August 1998
Virginia Southern Railroad RailTex [17] February 2000
A&R Line, Inc. TP&W September 1999Leased by TP&W since 1997; owned by Cargill; service ended in September 2002 [26]
Arizona Eastern Railway StatesRail [20] January 2002Sold December 2004 to Permian Basin Railways [12] [27] [28]
Central Western Railway RaiLink [12] July 1999Sold January 2006 [12]
Dakota Rail, Inc. directSeptember 1995Sold December 2001 to Hennepin County Regional Railroad Authority [12] [29]
Delaware Valley Railway directJuly 1994Lease transferred March 1999 to Brandywine Valley Railroad [30]
E&N Railway directJanuary 1999Sold June 2006 to Southern Railway of British Columbia
Evansville Terminal Company direct [31] June 1996Sold September 1997 to John H. Marino [12] [32]
Ferronor directFebruary 1997Leased Potrerillos Railway in January 2002; [33] sold February 2004 [12]
Freight Australia directApril 1999Sold August 2004 to Pacific National [12]
Georgia Southwestern Railroad RailTex [17] February 2000Sold March 2002 to local interests [12] [34]
Gettysburg Railway direct [35] November 1996Sold October 1997 to John H. Marino; included Gettysburg Scenic Rail Tours [12] [32]
Indiana and Ohio Central Railroad RailTex [17] February 2000Merged May 2005 into Indiana and Ohio Railway [36]
J.K. Line, Inc. TP&W September 1999Leased by TP&W since 1998; owned by Cargill; service ended in April 2002 [37] [38]
Lakeland and Waterways Railway RaiLink [12] July 1999Sold January 2006 [12]
Mackenzie Northern Railway RaiLink [12] July 1999Sold January 2006 [12]
Minnesota Northern Railroad direct [39] December 1996Sold August 2000 to KBN, Inc. [12] [40]
Ontario L'Orignal Railway RailTex [16] February 2000Sold December 2000 [12]
Pittsburgh Industrial Railroad RailTex [17] February 2000Sold December 2000 to Summit View, Inc. [12] [41]
Plainview Terminal Company directNovember 1995
St. Croix Valley Railroad direct [42] September 1997Sold August 2000 to KBN, Inc. [12] [40]
Saginaw Valley Railway directMarch 1992Merged September 2004 into Huron and Eastern Railway [43]
San Luis and Rio Grande Railroad direct [44] June 2003Sold December 2005 to Permian Basin Railways [12] [27] [45]
San Pedro and Southwestern Railway StatesRail [20] January 2002Sold October 2003 to Arizona Railroad Group [12] [46]
South Central Tennessee Railroad directFebruary 1994Sold December 2000 to Henry G. Hohorst et al. [12] [47]
Texas-New Mexico Railroad RailTex [17] February 2000Sold May 2002 to Permian Basin Railways [12] [27] [48]
West Texas and Lubbock Railroad directNovember 1995Leased May 2002 to Permian Basin Railways subsidiary West Texas and Lubbock Railway; sold December 2004 to Permian Basin Railways [12] [27] [48] [49]

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References

  1. RailAmerica (December 31, 2009). "Form 10-K: Commission file number 001-32579". United States Securities and Exchange Commission.
  2. "Fortress Completes Acquisition of RailAmerica, Inc". RailAmerica. February 14, 2007. Archived from the original on February 13, 2012. Retrieved October 31, 2007. Alt URL
  3. "RailAmerica buys rail construction company". Trains Magazine. July 1, 2010. Retrieved July 5, 2010.
  4. "RailAmerica to Acquire Gulf and Ohio's Three Alabama Short Lines". Progressive Railroading. April 11, 2011.
  5. "Genesee & Wyoming to pay $1.39B for RailAmerica". Yahoo! Finance . Greenwich, Conn. Associated Press. July 23, 2012. Retrieved September 22, 2023.
  6. "UPDATE 4-Genesee & Wyoming to buy RailAmerica for $1.4 billion". Reuters. July 23, 2012. Archived from the original on March 5, 2016. Retrieved July 23, 2012.
  7. Surface Transportation Board, Decision, Case No. 42772 Archived 2013-04-29 at the Wayback Machine , December 19, 2012
  8. "Rail America sale completed - Railway Gazette". Railway Gazette International . Retrieved 4 October 2012.
  9. "Michigan's Railroad History 1825 - 2014" (PDF). Michigan Department of Transportation. 2014-10-13. Retrieved 2024-04-29.
  10. "RailAmerica acquisition skewed Genesee & Wyoming's 4Q financial results". Progressive Railroading. February 13, 2013. Retrieved 19 March 2015.
  11. Bowen, Douglas John (2 May 2013). "GWI marks 1Q earnings, new headquarters". Railway Age. Simmons-Boardman Publishing Corporation. Retrieved 2 April 2015.
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  13. STB Finance Docket No. 34128 Archived 2012-02-24 at the Wayback Machine , December 28, 2001
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  37. Railroad Retirement Board, Employer Status Determination: Marksman Corporation Archived 2012-09-16 at the Wayback Machine , December 18, 2000
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  48. 1 2 STB Finance Docket No. 34206 Archived 2012-02-24 at the Wayback Machine , June 14, 2002
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