Company growth marked by its fourth transaction in past twelve months
DENVER – September 11, 2019 – A managed affiliate of OmniTRAX, Inc. (OmniTRAX), one of the largest privately held rail-centric transportation and logistics service companies in North America, and an affiliate of The Broe Group, has completed the acquisition of the 101 year-old Winchester & Western Railroad (WW) from Covia Holdings Corporation (NYSE: CVIA). The closing marks the successful completion of the transaction originally announced July 26, 2019. WW operates in Maryland, Virginia, West Virginia and New Jersey.
The acquisition expands the OmniTRAX-managed short line portfolio into key new distribution locations in multiple east coast markets, providing OmniTRAX’s customers access to 100 million people within a day’s transit. WW joins Cleveland & Cuyahoga Railway (CCRL), Cleveland Port Railway (CHB), Alabama & Tennessee River Railway, LLC (ATN) and Fulton County Railway, LLC (FCR) on the list of recent OmniTRAX transactions.
“We are pleased to finalize this strategic transaction and appreciate the extensive work and due diligence invested to reach this moment,” said Kevin Shuba, OmniTRAX CEO. “Our initial outreach with the Winchester & Western team, existing customers and local partners reaffirms our belief in the opportunity this acquisition represents.”