OmniTRAX Affiliate Acquires Heart of Texas Railroad
By Business Wire News
By Business Wire News
A managed affiliate of OmniTRAX, Inc., one of the largest privately held transportation services companies in North America and an affiliate of The Broe Group, is purchasing the Heart of Texas Railroad (HTR) from private local investors. The transaction is subject to Surface Transportation Board approval. Terms were not disclosed.
The rail line, which is being renamed Central Texas & Colorado River Railway, LLC, operates 68 miles of track running due west from Lometa, TX, where it interchanges with BNSF, to Brady, TX. Potential new customers include an aggregate quarry, a cement factory and frac sand producers.
“The Central Texas & Colorado River Railway is a great opportunity for OmniTRAX with at least three good long-term mineral prospects on the line. As a distressed asset that can be turned around with our expertise, it’s right in our sweet spot,” said Kevin Shuba, CEO of OmniTRAX. “We want to thank the sellers for their efforts in starting to implement a restructuring plan and making the closing of the transaction as smooth as possible.”
About OmniTRAX, Inc.
As one of North America’s largest privately-held railroad and transportation management companies, OmniTRAX’s core capabilities range from providing management services to railroad and port services to intermodal and industrial switching operations. 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 www.omnitrax.com.
About The Broe Group
The Broe Group, based in Denver, Colorado, is a diversified privately-owned enterprise with a multi-billion dollar asset base. The Broe Group and its affiliates employ more than 1,000 people directly and provide employment for countless others through its Great Western Industrial Park in Northern Colorado. The Broe Group and its affiliates own and/or manage commercial real estate and other businesses across North America. Its transportation affiliate, OmniTRAX, Inc., is a leading transportation services firm with railroad, port and terminal operations, and is the 2nd largest operator of short-line railroads in the U.S. Its energy affiliate, Great Western Oil & Gas Company, is a top 10 driller in Colorado and among the top 100 drillers in the U.S. The Broe Group has multiple other investment affiliates, including Three Leaf Ventures, which is focused on innovative healthcare technology start-ups. For more information, see www.broe.com.
Ronald Margulis, 908-272-3930