Company growth marked by its fourth transaction in past twelve months
DENVER–(BUSINESS WIRE)–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.”
About OmniTRAX, Inc.
As one of North America’s largest private railroad and transportation management companies, OmniTRAX’s core capabilities range from providing transportation and supply chain management services to railroad and port companies, to providing intermodal and industrial switching operations to railroads, ports and a diverse group of industrial companies. Through its affiliation with The Broe Group and its portfolio of managed companies, OmniTRAX also has the unique capability of offering specialized industrial development and real estate solutions, both on and off the rail network managed by OmniTRAX. More information is available at omnitrax.com.
About The Broe Group
Based in Denver, The Broe Group and its affiliates form a privately-owned, multi-billion-dollar real estate, transportation, energy and investment organization with assets owned and managed across North America. Together, Broe managed companies employ more than 1,000 people and support employment of thousands of others through operations such as its Great Western Industrial Park in Northern Colorado. Its transportation affiliate, OmniTRAX, Inc., is one of North America’s largest private railroad and transportation management companies specializing in: management services, railroad and port services, intermodal solutions and industrial switching operations. Its energy affiliates include Great Western Oil & Gas Company, the largest private operator in the third most prolific U.S. basin. Broe Real Estate Group acquires, develops and manages office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. The Broe Group also has multiple investment affiliates, including Three Leaf Ventures, which is focused on innovative healthcare technology start-ups. For more information, visit broe.com.