GenNx360 Capital Partners (“GenNx360”), a New York-based private equity firm investing in middle market companies, today announced its investment in Appalachian Railcar Services, Inc. (“ARS” or the “Company”). ARS provides railcar repair, railcar storage, plant loading and unloading, and short line switching operations at 47 locations across 18 states. It serves a well-diversified customer base covering multiple industries, including agriculture, chemicals, manufacturing, energy, food processing, and rail logistics. In addition, several of ARS’ railcar repair locations are also certified tank car repair locations. The transaction represents the eighth platform investment for GenNx360’s Fund II. The transaction was sourced in partnership with FourFront Strategies, LLC, a Chicago-based firm. Bundy Group served as exclusive advisor to ARS and its shareholders in the sale process. Terms of the transaction were not disclosed.
“We are looking forward to working closely with ARS management to further accelerate the growth ARS has enjoyed. We are confident that the combination of ARS’ strong and well-established brand and GenNx360’s knowledge in the industry will help them to expand the service offering to their customers,” said Monty Yort, the Managing Partner at GenNx360 who led the transaction.
“The entire ARS management team is excited to be partnering with GenNx360”, said Kurt Higginbotham, President and CEO. “This represents a new chapter for ARS and will allow us to accelerate a number of growth programs already in progress. Joining a company with the operational expertise and capabilities of GenNx360 additionally opens up many possibilities for improvement and growth.”