Iowa Pacific Holdings
| Iowa Pacific Holdings
|
|
|---|---|
 |
|
| legal form | LLC |
| founding | 2001 |
| Seat |
Chicago , United States
|
| management | Ed Ellis |
| Branch | Railway company |
| Website | www.iowapacific.com |
The Iowa Pacific Holdings (IPH) is an American holding company in rail transport. It was founded in 2001 on the initiative of the former Vice President of Amtrak Ed Ellis and has since bought a number of small railway companies ( English shortlines ) and operates freight and passenger services.
history
In 2002 the Permian Basin Railways was founded. The company acts as the parent company for all of the company's freight transport activities. In the same year, the Austin Railroad ( Texas - New Mexico Railroad ) was acquired and the West Texas and Lubbock Railway was leased from RailAmerica . In 2004 the Arizona Eastern Railway and the West Texas and Lubbock Railway were purchased from RailAmerica, the San Luis and Rio Grande Railroad in 2005 , the Chicago Terminal Railroad in 2006 and the Mount Hood Railroad in 2008 .
In 2008 the British railway companies Dartmoor Railway and Weardale Railway were bought. The companies are operated under the name British American Railway Services. Freight transport services have been offered under the name Devon and Cornwall Railways (DC Rail) since 2010 .
The following year attempts were made to operate the Denver Ski Train . The project failed because of the necessary insurance costs. In 2009 the company acquired a stake in the Peruvian Andean Railways , which began offering passenger services to Machu Picchu in 2010. This participation was sold again in 2016.
On September 1, 2011, the Arizona Eastern Railway was sold to Genesee and Wyoming . In April 2012 the Texas State Railroad was leased . Freight transport services are offered under the name Rusk, Palestine and Pacific Railroad and excursion trains under the name Texas State Railroad. In May 2012, freight traffic through the Santa Cruz and Monterey Bay Railroad began on the former Santa Cruz Branch Line of the Union Pacific Railroad , now owned by the Santa Cruz County Regional Transportation Commission . In October 2012, the majority of Cape Rail Inc. was taken over. The Massachusetts Coastal Railroad offers freight services on this route and the Cape Cod Central Railroad offers excursion trains.
After the reconditioning of historic passenger coaches by the Pullman Palace Car Company , the subsidiary Pullman Sleeping Car Company has been offering luxury train journeys in the United States under the name Pullman Rail Journeys since 2012, including regular trips to Denver and New Orleans.
In 2013 the company ran into financial difficulties. In the same year the subsidiary "Holtrade Atlantico" was founded with the British company Holtrade, which intends to carry out freight transport services in Colombia.
In 2014, 80% of the company shares in Sam Zell's investment company Chai Trust Co. LLC and EGI Fund Investors LLC were sold.
On May 18, 2015, the sale of the Texas - New Mexico Railroad and the West Texas and Lubbock Railway to the Watco Companies was announced. On August 1, 2015, operations began on the Piedmont and Northern Railroad , and in September 2015, the company received the operating license for the Grenada Railroad, which is owned by the North Central Mississippi Regional Railroad Authority .
From August 2, 2015 to February 28, 2017, Iowa Pacific will provide the rolling stock and service personnel for the Hoosier State Chicago - Indianapolis passenger train . The train is operated by Amtrak.
The passenger transport activities are marketed under the name "Premier Rail Collection", including excursion trains (Reno Fun Train, Sierra Scenic) between the Bay Area and Reno (Nevada) as "Key Holidays"
In 2017/2018, the routes and companies operated were greatly reduced. In July 2017 the operation of the Piedmont and Northern Railroad and in 2018 the operation of the Santa Cruz and Monterey Bay Railway was transferred to the Progressive Rail , in 2017 the operation of the Texas State Railroad was transferred to The Western Group and in August 2018 the company sold the Grenada Railroad to International Rail Partners (IRP)
As of September 2019, several companies had to go into receivership because Iowa Pacific Holdings failed to meet its loan obligations.
Rail companies in the United States
| Railway company (reporting mark) | State | Distance in miles | Start of operations | comment |
|---|---|---|---|---|
| Chicago Terminal Railway (CTM) | Illinois | 2006 | ||
| Massachusetts Coastal Railroad (MC) | Massachusetts | October 2012 | ||
| Mount Hood Railroad (MH) | Oregon | 22nd | 2008 | |
| Rusk, Palestine and Pacific Railroad (RPP) | Texas | 29.1 | April 2012 | Texas State Railroad leased line , excursion traffic as Texas State Railroad; Operation from 2017 by The Western Group |
| San Luis and Rio Grande Railroad (SLRG) | Colorado | 149.6 | December 2005 | Excursion operation as the Rio Grande Scenic Railroad |
| Santa Cruz and Monterey Bay Railway (SCMB) | California | 32 | May 2012 | Operation from 2018 by Progressive Rail |
| Saratoga and North Creek Railway (SNC) | new York | 57 | July 2011 | Excursion traffic only |
| Grenada Railroad (GRYR) | Mississippi | 206 | September 2015 | Sold to International Rail Partners in August 2018 |
| Piedmont and Northern Railroad (PNRW) | North Carolina | 13.1 | August 1, 2015 | Operation from July 2017 by Progressive Rail |
| Texas - New Mexico Railroad (TNMR) | Texas , New Mexico | May 25, 2002 | Sold in May 2015 to the Watco Companies | |
| West Texas and Lubbock Railway (WTLC) | Texas | May 25, 2002 | Sold in May 2015 to the Watco Companies | |
| Arizona Eastern Railway (AZER) | Arizona | December 2004 | Sold September 1, 2011 to Genesee and Wyoming |
Individual evidence
- ↑ a b The Ed Ellis Story (continued). In: Trains . April 29, 2014, accessed August 8, 2016 .
- ^ About Iowa Pacific Holdings
- ↑ Railroad Retirement Board: Employer Status Determination Iowa Pacific Holdings, LLC Permian Basin Railways ( Memento of the original from August 10, 2016 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice.
- ^ Iowa Pacific sells Peruvian investment , February 18, 2016
- ↑ Rail Journeys Brochure 2015
- ↑ Santa Cruz Sentinel: August 3, 2013: Rails of debt: Parent company of local train operator struggles
- ^ Railway Age July 17, 2013: Iowa Pacific, Holdtrade (UK) Ltd. form Colombian joint venture
- ^ The Post Star April 28, 2014: Railroad company proposes to sell 80 percent stake
- ↑ Watco Companies press release
- ^ Railway Age July 30, 2015: Iowa Pacific to operate Grenada Railway
- ^ Hoosier State
- ^ Rail News - Iowa Pacific withdraws from Hoosier State Train service. For Railroad Career Professionals. Retrieved August 24, 2017 (American English).
- ^ Premier Rails: About
- ↑ Key Holidays website
- ^ Rail News - International Rail acquires short line from Iowa Pacific Holdings. For Railroad Career Professionals. Retrieved August 9, 2018 (American English).
- ↑ Justin Franz | September 13, 2019: San Luis & Rio Grande, Mount Hood Railroad placed into receivership | Trains Magazine. Retrieved December 5, 2019 .
- ↑ Justin Franz | September 23, 2019: Hearing set to place other Iowa Pacific railroads into receivership | Trains Magazine. Retrieved December 5, 2019 .
- ↑ Route ( Memento of the original from August 12, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
