RailAmerica

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RailAmerica Inc.

logo
legal form Inc.
founding March 31, 1992
resolution 2012
Reason for dissolution takeover
Seat Jacksonville , United States
management John E. Giles
Number of employees 1808
sales 551,120,000 US dollars
Branch IM , EVU
As of December 31, 2011

RailAmerica Inc. was a US publicly traded company that owned 42 mainly short- line railroad companies in 27 states of the United States and three Canadian provinces with a total route length of approximately 12,500 km. Company headquarters was Jacksonville . The company had around 1,800 employees.

history

Alabama and Gulf Coast Railroad locomotive with the typical RailAmerica livery

RailAmerica was founded on March 31, 1992 by Gary O. Marino and John H. Marino as a holding company for the acquisition and operation of medium-sized and smaller railroads based in Boca Raton . The first two railroad companies under the umbrella of the holding were the Huron and Eastern Railway (founded 1986) and Saginaw Valley Railroad (founded 1991). Chairman of the Board, President (from July 1996) and Chief Executive Officer (from March 1994) was Gary O. Marino, who until then had headed Huron and Eastern.

RailAmerica went public in November 1992 and was listed on NASDAQ . This created the financial possibilities for further acquisitions. In February 1994, the third route followed with the South Central Tennessee Railroad . In 1994 and 1995 the management was expanded significantly. In addition, the company acquired the Dakota Rail in Minnesota with a connection to the West Texas and Lubbock Railroad in Texas . In December 2001, it was announced that this 44-mile railroad would be sold to the Hennepin County Regional Rail Authority for $ 7.6 million.

In 1994 the trailer manufacturer Kalyn / Siebert was acquired, but sold again in 2000 because the planned synergies could not be implemented. The growth continued in 1996 with the acquisition of a further three routes. The subsidiary Minnesota Northern Railroad took over from the Burlington Northern Santa Fe Corporation (BNSF) 204 miles of railway line around Crookston . Furthermore, the Otter Tail Valley Railroad in Minnesota was taken over.

The Cascade and Columbia River Railroad operates the Oroville Line of the Burlington Northern Santa Fe Corporation , which was taken over by RailAmerica .

In the spring of 1997 RailAmerica acquired 55% of the 2,253 km long Chilean railroad Ferronor . In December 2001, RailAmerica announced that Ferronor will operate the Potrerillos Railway from January 2, 2002 . As part of this takeover, a 15-year transport contract was concluded with the world's largest copper producer Codelco . In February 2004 RailAmerica sold all of its shares in Ferronor.

The company's expansion continued in August 1997 with the acquisition of the 97 km long St. Croix Valley Railroad from the Burlington Northern Santa Fe Railway. That deal was RailAmerica's eleventh route, the fourth in Minnesota and the third between BNSF and RailAmerica.

In October 1997, the subsidiary RailAmerica Australia PTY Ltd. the participation in the Great Southern Railway and thus entry into the Australian market. The company received the concession for transcontinental passenger traffic. The stake was sold on to the majority owner Serco Group plc in October 1999 .

In 1998, the Saginaw to Brown City railway line was acquired by CSX Transportation through the Saginaw Valley Railway Company .

In August 1998, RailAmerica acquired the 21 km long Ventura County Railroad in Oxnard, California. In the spring of 1999 the company bought its thirteenth line and the first in Canada, the 291 km long Esquimalt and Nanaimo Railway (E&N) on British Columbia's Vancouver Island from the Canadian Pacific Railway .

In April 1999, RailAmerica completed its largest international acquisition with the purchase of the Australian V / Line from the Victoria government for $ 103 million. This regional rail company provides freight transport services in southeast Australia on a route network of 5068 km. The company has been operating under the name Freight Australia since May 1, 1999. In August 2004 RailAmerica sold Freight Australia to Pacific National for $ 204 million. Sixty million dollars of the sale proceeds were used to reduce RailAmerica's debt.

With the purchase of the remaining shares in Canada's third largest rail network RaiLink Ltd. In July 1999, RailAmerica completed its largest acquisition in North America to date. With this acquisition, the company gained access to a 4,022 km system with eleven routes in Alberta , the Northwest Territories , Ontario , Québec and New Brunswick .

On September 3, 1999, RailAmerica took over the operation of the 594 km long Toledo, Peoria & Western Railroad (TPW) located in East Peoria (Illinois ) for 24 million dollars, the largest takeover in the company's history to date.

On February 4, 2000, RailAmerica took over RailTex , which was then the largest shortline operator in North America. The US $ 325 million acquisition marked a new era in the history of such railroad operations. After the conclusion of this deal, RailAmerica was the largest operator of shortlines and regional railways in the world with 39 routes and over 18,000 km of track in the USA, Canada, Australia and Chile.

RailAmerica has been traded on the NYSE since January 2002 .

StatesRail , another leading shortline operator, was purchased in January 2002 for US $ 90 million . This added eight more routes (seven freight transport routes and a tourist train in Hawaii ) with 2,650 km in eleven states.

Also in January 2002, ParkSierra , operator of three 1,208 km shortlines in the western United States, was acquired by RailAmerica for $ 48 million, $ 23 million in cash and $ 25 million in shares. The purchase was announced in November 2001.

In June 2003, RailAmerica acquired two further shortlines for US $ 22 million. On June 1, a BNSF stretch of 463 km for the Alabama and Gulf Coast Railway and a 150 miles in southern Colorado by the Union Pacific Railroad , which is operated by the San Luis and Rio Grande Railroad (SLRG).

The company now operated 49 railways with 28,480 km in the USA, Canada, Australia and Chile, including the route usage rights granted . Due to the economic development of individual routes, which also had an impact on the entire group, the entrepreneurial strategies were changed in the period that followed. In 2004 the Chilean and Australian companies were sold. But route networks were also optimized in North America.

In January 2004, the Central Michigan Railway (CMGN) facilities were acquired for US $ 25.3 million. The CMGN operates as part of the Huron & Eastern Railway . On August 1, 2004, the Chicago, Fort Wayne and Eastern Railroad (CFE) begins operations. The CFE was created through a lease agreement with CSX Transportation .

In August 2004, William G. Pagonis was named Chairman of the Board. In March 2005, Marino was replaced by Charles Swinburn as CEO and Donald D. Redfearn as President.

In October 2004 RailAmerica acquired the 172 km long Midland Subdivision from CSX Transportation. The line operates as part of the Indiana & Ohio Central Railroad . In December 2004, RailAmerica sold the Arizona Eastern Railway and the West Texas and Lubbock Railroad to the Permian Basin Railways . In October 2005, Alcoa acquired four routes totaling 25 miles in Texas, New York and Arkansas . In December of the same year the San Luis and Rio Grande Railroad was sold to the Permian Basin Railways and in January 2006 the Mackenzie Northern Railway , the Lakeland and Waterways Railway and the Central Western Railway to the Canadian National Railway . In March 2006, E&N Railroad was sold .

On February 14, 2007, RailAmerica was taken over by the investment company Fortress Investment Group LLC for $ 1.1 billion. Wesley R. Edens became the new Chairman of the Board, Fortress Investment Board Member, and John E. Giles became President and Chief Executive Officer. The company's headquarters were relocated to Jacksonville, Florida.

As a result, the corporate structure was further optimized. Various regional departments were formed. Fortress parted with 40% of the shares through an IPO on October 14, 2009.

In the spring of 2011, the Company acquired from the Gulf and Ohio Railways , the Three Notch Railroad , the Wiregrass Central Railroad and the Conecuh Valley Railroad . In 2012, Marquette Rail and a 70% stake in Wellsboro and Corning Railroad were acquired .

In July 2012, Genesee and Wyoming announced that it would acquire RailAmerica for $ 1.4 billion. This was preceded by considerations by the management of RailAmerica at the end of May 2012 to put the company up for sale. Following the approval of the US  Surface Transportation Board  on December 19, 2012, the formal takeover took place on December 28, 2012. With the takeover, the route network of Genesee and Wyoming in the United States has grown to 24,000 kilometers. The company also operates over 110 railway lines.

Railway companies

The table lists all railway companies that were acquired by RailAmerica or by its subsidiaries.

Railway companies belonging to RailAmerica
Railway company Abbreviation Acquired by time Remarks
Alabama and Gulf Coast Railway EGR StatesRail  Jan. 2002
Arizona and California Railroad ARZC ParkSierra  Jan. 2002
Bauxite and Northern Railway BXNR Alcoa  Sep 2005
California Northern Railroad CFNR ParkSierra  Jan. 2002
Cape Breton and Central Nova Scotia Railway CBNS RailTex  Feb. 2000
Carolina Piedmont Railroad CPDR RailTex  Feb. 2000
Cascade and Columbia River Railroad CSCD directly  Sep 1996
Central Oregon and Pacific Railroad CORP RailTex  Feb. 2000
Central Railroad of Indiana CIND RailTex  Feb. 2000
Central Railroad of Indianapolis CERA RailTex  Feb. 2000 operated by Winamac Southern Railway
Chesapeake and Albemarle Railroad CARR RailTex  Feb. 2000
Chicago, Fort Wayne and Eastern Railroad CFER directly  July 2004
Connecticut Southern Railroad CSOR RailTex  Feb. 2000
Dallas, Garland and Northeastern Railroad DGNO RailTex  Feb. 2000
Eastern Alabama Railway EARY StatesRail  Jan. 2002
Goderich-Exeter Railway GXRR RailTex  Feb. 2000
Grand Rapids Eastern Railroad GR RailTex  Feb. 2000
Huron and Eastern Railway HESR directly  March 1992
Indiana and Ohio Railway IORY RailTex  Feb. 2000
Indiana Southern Railroad ISRR RailTex  Feb. 2000
Kiamichi Railroad KRR directly  Jan. 2002
Kyle Railroad KYLE StatesRail  Jan. 2002
Marquette Rail MQT directly  Feb. 2012
Massena Terminal Railroad MSTR Alcoa  Sep 2005
Michigan Shore Railroad MSR RailTex  Feb. 2000
Mid-Michigan Railroad MMRR RailTex  Feb. 2000
Missouri and Northern Arkansas Railroad MNAR RailTex  Feb. 2000
New England Central Railroad NECR RailTex  Feb. 2000
North Carolina and Virginia Railroad VCVA RailTex  Feb. 2000
Ottawa Valley Railway OVRR RaiLink  July 1999
Otter Tail Valley Railroad OTVR directly  Oct 1996
Point Comfort and Northern Railway PCNR Alcoa  Sep 2005
Puget Sound and Pacific Railroad PSAP ParkSierra  Jan. 2002
Rockdale, Sandow and Southern Railroad RSSR Alcoa  Sep 2005
San Diego and Imperial Valley Railroad SDIY RailTex  Feb. 2000
San Joaquin Valley Railroad SJVR StatesRail  Jan. 2002
South Carolina Central Railroad SCRF RailTex  Feb. 2000
Southern Ontario Railway SORR RaiLink  July 1999
Texas Northeastern Railroad TNER RailTex  Feb. 2000
Toledo, Peoria and Western Railway TPWR directly  Sep 1999
Ventura County Railroad VCRR directly  Aug 1998
Three Notch Railroad THNR Gulf and Ohio Railways  Apr. 2011
Wiregrass Central Railroad WGCR Gulf and Ohio Railways  Apr. 2011
Conecuh Valley Railroad COEH Gulf and Ohio Railways  Apr. 2011
Wellsboro and Corning Railroad WCOR Myles Group  Feb. 2012 70% share
formerly part of RailAmerica
Railway company Acquired by time Remarks
A&R Line TP&W  Sep 1999 Leased from Cargill from 1997 to 2002 through TP&W.
Arizona Eastern Railway StatesRail  Jan. 2002 Sold to Permian Basin Railways in December 2004
Central Michigan Railway directly  Jan. 2004 Integrated into the Huron and Eastern Railway
Central Western Railway RaiLink  July 1999 Sold in January 2006
Dakota Rail directly  Sep 1995 Sold to the Hennepin County Regional Railroad Authority in December 2001 .
Delaware Valley Railway directly  July 1994 Transferred to the Brandywine Valley Railroad on a lease in March 1999 .
E&N Railway directly  Jan. 1999 Sold to the Southern Railway of British Columbia in June 2006 .
Evansville Terminal Company directly  June 1996 Sold to John H. Marino in September 1997.
Ferronor directly  Feb 1997 Leased from the Potrerillos Railway in January 2002; sold in February 2004.
Freight Australia directly  April 1999 Sold to Pacific National in August 2004 .
Georgia Southwestern Railroad RailTex   Sold to local investors in March 2002.
Gettysburg Railway directly  Nov 1996 Sold to John H. Marino in October 1997.
Indiana and Ohio Central Railroad RailTex  Feb. 2000 Merged with the Indiana and Ohio Railway .
JK Line TP&W  Sep 1999 Leased from Cargill through TP&W from 1998 to 2002
Lahaina, Kaanapali and Pacific Railroad StatesRail  Jan. 2002 2007 sold
Lakeland and Waterways Railway RaiLink  July 1999 Sold in January 2006
Mackenzie Northern Railway RaiLink  July 1999 Sold in January 2006
Minnesota Northern Railroad directly  Dec 1996 Sold to KBN in August .
Ontario L'Orignal Railway RailTex  Feb. 2000 Sold in December 2000.
Pittsburgh Industrial Railroad RailTex  Feb. 2000 Sold to Summit View in December 2000
Plainview Terminal Company directly  Nov 1995
St. Croix Valley Railroad directly  Sep 1997 Sold to KBN in August 2000
Saginaw Valley Railway directly  March 1992 Merged into Huron and Eastern Railway in September 2004.
San Luis and Rio Grande Railroad directly  June 2003 Sold to Permian Basin Railways in December 2005.
San Pedro and Southwestern Railway StatesRail  Jan. 2002 Sold to the Arizona Railroad Group in October 2003 .
South Central Tennessee Railroad directly  Feb 1994 Sold in December 2000 to Henry G. Hohorst and other investors.
Texas-New Mexico Railroad RailTex  Feb. 2000 Sold to Permian Basin Railways in May 2002.
Virginia Southern Railroad RailTex  Feb. 2000 Operated on the Virginia section since 2009 by the Buckingham Branch Railroad
West Texas and Lubbock Railroad directly  Nov 1995 Leased to Permian Basin Railways subsidiary West Texas and Lubbock Railway in May 2002 and sold to Permian Basin Railways in December 2004.

Corporate management

  • Chairman of the Board
    • March 1992 to August 2004: Gary O. Marino
    • August 2004 to February 2007: William G. Pagonis
    • February 2007 to December 2012: Wesley R. Edens (Fortress Investment)
  • Chief Executive Officer
    • March 1994 to August 2004: Gary O. Marino
    • August 2004 to February 2007: Charles Swinburn
    • February 2007 to December 2012: John E. Giles
  • president
    • March 1992-June 1996: John H. Marino
    • June 1996 to June 2004: Gary O. Marino
    • June 2004 to February 2007: Donald D. Redfearn
    • February 2007 to December 2012: John E. Giles

Web links

Individual evidence

  1. ↑ a b c RailAmerica (Ed.): Annual Report 2011 . Overview. S. 9 ( PDF 5.9MB [accessed on July 29, 2012]).
  2. ^ RailAmerica (ed.): Invester Relations . ( HTML [accessed July 29, 2012]).
  3. ↑ RailAmerica (Ed.): Annual Report 2011 . Corporate officers. S. 6 ( PDF 5.9MB [accessed on July 29, 2012]).
  4. ↑ RailAmerica (Ed.): Annual Report 2011 . Employees. S. 14 ( PDF 5.9MB [accessed July 29, 2012]).
  5. ↑ RailAmerica (Ed.): Annual Report 2011 . Operating performance. S. 4 ( PDF 5.9MB [accessed on July 29, 2012]).
  6. ^ The New York Times (ed.): Company briefs . RailAmerica. December 27, 2001 ( HTML [accessed July 29, 2012]).
  7. ^ The New York Times (ed.): Company briefs . Burlington Northern Santa Fe Corporation. December 31, 1996 ( HTML [accessed July 29, 2012]).
  8. ^ The New York Times (ed.): Burlington Northern sells Washington rail line . September 10, 1996 ( HTML [accessed August 29, 2012]).
  9. ^ The New York Times (Ed.): CSX Sells a Rail Line . May 1, 1998 ( HTML [accessed July 29, 2012]).
  10. ↑ a b The New York Times (ed.): RailAmerica to sell australian unit to Pacific National . February 1, 2004 ( HTML [accessed July 29, 2012]).
  11. ^ The New York Times (ed.): Agreement to buy Railway . June 30, 1999 ( HTML [accessed July 29, 2012]).
  12. ↑ The New York Times (Ed.): RailAmerica to buy ParkSierra for $ 48 million . November 7, 2001 ( HTML [accessed July 29, 2012]).
  13. ↑ Ryan December: Fortress Out, Carlyle In on Rail Deal . Ed .: The Wall Street Journal . July 24, 2012 ( HTML [accessed July 29, 2012]).
  14. ↑ Jens Korte: Comeback of a rail giant . The stock market debut of the railroad company Rail America failed. But the economy and low costs speak for the share. Ed .: Financial Times Deutschland . November 29, 2009 ( HTML [accessed July 29, 2012]). HTML ( Memento of the original from March 6, 2010 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.  @1@ 2Template: Webachiv / IABot / www.ftd.de
  15. ^ The New York Times (ed.): RailAmerica May Put Itself Up for Sale . May 22, 2012 ( HTML [accessed July 28, 2012]).
  16. ↑ Financial Times Deutschland (Ed.): Billion dollar takeover of the railway in the USA . July 25, 2012, p. 4 .
  17. ↑ a b c d e f g h i j k l m n o p q r s t u v w x y z aa Securities and Exchange Commission , Form 10-K: RailAmerica, Inc., for the respective fiscal year ending on Ended December 31, 1996 , 1997 , 1998 , 1999 , 2000 , 2001 , 2002 , 2003 , 2004 , 2005
  18. ^ Surface Transportation Board (Ed.): STB Finance Docket No. 34128 . December 28, 2001 ( HTML [accessed July 29, 2012]).
  19. ↑ a b c Surface Transportation Board (Ed.): STB Finance Docket No. 34197 . May 23, 2002 ( HTML [accessed July 29, 2012]).
  20. ↑ a b c d Surface Transportation Board (Ed.): STB Finance Docket No. 34758 . October 19, 2005 ( HTML [accessed July 29, 2012]).
  21. ^ A b c Securities and Exchange Commission (Ed.): Form 8-K: RailTex, Inc. November 8, 1999 ( HTML ).
  22. ↑ a b c d e f g h i j k l m n o p q r s t u v w Surface Transportation Board (Ed.): STB Finance Docket No. 33813 . November 16, 1999 ( HTML [accessed July 29, 2012]).
  23. ^ Surface Transportation Board (Ed.): STB Finance Docket No. 33048 . September 13, 1996.
  24. ^ Surface Transportation Board (Ed.): STB Finance Docket No. 34508 . July 30, 2004 ( HTML [accessed July 29, 2012]).
  25. ↑ a b c d e Surface Transportation Board (Ed.): STB Finance Docket No. 34129 . December 28, 2001 ( HTML [accessed July 29, 2012]).
  26. ^ Surface Transportation Board (Ed.): STB Finance Docket No. 34130 . January 30, 2002 ( HTML [accessed July 29, 2012]).
  27. ^ Rail-USA (ed.): RailAmerica acquires Marquette Rail . July 29, 2012 ( HTML [accessed July 29, 2012]).
  28. ^ Surface Transportation Board (Ed.): STB Finance Docket No. 33138 . October 25, 1996.
  29. ^ Surface Transportation Board (Ed.): STB Finance Docket No. 33777 . September 17, 1999 ( HTML [accessed July 29, 2012]).
  30. ^ Surface Transportation Board (Ed.): STB Finance Docket No. 33650 . September 24, 1998 ( HTML [accessed July 29, 2012]).
  31. ↑ Surface Transportation Board (ed.): STB Docket No. AB-855 (Sub-No.1X) . September 29, 2003 ( HTML [accessed July 29, 2012]).
  32. ↑ a b c d Iowa Pacific Holding (Ed.): Permian Basin Railways . ( HTML [accessed July 29, 2012]). HTML ( Memento of the original from October 30, 2014 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.  @1@ 2Template: Webachiv / IABot / www.permianbasinrailways.com
  33. ^ Surface Transportation Board (Ed.): STB Finance Docket No. 34614 . December 22, 2004 ( HTML [accessed July 29, 2012]).
  34. ↑ Surface Transportation Board (ed.): STB Docket No. AB-472 (Sub-No.1X) . December 27, 2001 ( HTML [accessed July 29, 2012]).
  35. ^ Surface Transportation Board (Ed.): STB Finance Docket No. 33722 . April 16, 1999 ( HTML [accessed July 29, 2012]).
  36. ^ Surface Transportation Board (Ed.): STB Finance Docket No. 32990 . July 17, 1996.
  37. ↑ a b Surface Transportation Board (Ed.): STB Finance Docket No. 33505 . November 21, 1997 ( HTML [accessed July 29, 2012]).
  38. ^ Surface Transportation Board (Ed.): STB Finance Docket No. 33287 . November 18, 1996 ( HTML [accessed July 29, 2012]).
  39. ^ Railroad Retirement Board (ed.): Employer Status Determination . Indiana & Ohio Central Railroad, Inc. October 11, 2005 ( HTML [accessed July 29, 2012]).
  40. ^ Railroad Retirement Board (ed.): Employer Status Determination . Marksman Corporation. December 18, 2000 ( PDF 139kB ).
  41. ↑ Surface Transportation Board (ed.): STB Docket No. AB-856 (Sub-No.1X) . November 18, 2003 ( HTML [accessed July 29, 2012]).
  42. ^ Surface Transportation Board (Ed.): STB Finance Docket No. 33316 . March 12, 1997 ( HTML [accessed July 29, 2012]).
  43. ↑ a b Surface Transportation Board (Ed.): STB Finance Docket No. 33911 . August 31, 2000 ( HTML [accessed July 29, 2012]).
  44. ^ Surface Transportation Board (Ed.): STB Finance Docket No. 33978 . January 11, 2001 ( HTML [accessed July 29, 2012]).
  45. ^ Surface Transportation Board (Ed.): STB Finance Docket No. 33443 . September 3, 1997 ( HTML [accessed July 29, 2012]).
  46. ^ Railroad Retirement Board (ed.): Employer Status Determination . Saginaw Valley Railway Company. March 22, 2005 ( HTML ).
  47. ^ Surface Transportation Board (Ed.): STB Finance Docket No. 34352 . July 18, 2003 ( HTML [accessed July 29, 2012]).
  48. ^ Surface Transportation Board (Ed.): STB Finance Docket No. 34799 . January 12, 2006 ( HTML [accessed July 29, 2012]).
  49. ^ Surface Transportation Board (Ed.): STB Finance Docket No. 34430 . November 21, 2003 ( HTML [accessed July 29, 2012]).
  50. ^ Surface Transportation Board (Ed.): STB Finance Docket No. 33987 . January 12, 2001 ( HTML [accessed July 29, 2012]).
  51. ↑ a b Surface Transportation Board (Ed.): STB Finance Docket No. 34206 . June 14, 2002 ( HTML [accessed July 29, 2012]).
  52. ^ Surface Transportation Board (Ed.): STB Finance Docket No. 35226 . May 7, 2009 ( HTML [accessed February 27, 2015]).
  53. ^ Surface Transportation Board (Ed.): STB Finance Docket No. 34613 . December 22, 2004 ( HTML [accessed July 29, 2012]).