Continues Growth Trajectory and Strategically Expands West Coast Footprint
Further positions Company to provide turnkey track replacement services
NEW YORK, August 23, 2022 /PRNewswire/ — RailWorks Corp . (“RailWorks” or the “Company”), North America’s leading specialty railroad construction and maintenance contractor, announced today that it has acquired H&H Engineering Construction (“H&H”), a railroad maintenance and construction contractor for Western United States providing services to industrial transport companies, ports, freight railways and railways.
The transaction follows RailWorks’ recently completed acquisition of Progress Rail’s Rail Welding Services Division, a specialist provider of butt welding (“FBW”), enabling RailWorks to utilize best-in-class FBW capabilities and provide rail customers with enhanced maintenance of road services. The financial terms of these transactions were not disclosed.
RailWorks provides comprehensive specialty rail construction and maintenance services, which include track construction, turnkey rehabilitation and maintenance, and innovative predictive track maintenance solutions. The integration of H&H will strategically expand RailWorks’ West Coast presence with a best-in-class team of professionals serving a diverse rail customer base. As part of the RailWorks team, H&H teams will be able to utilize FBW crews and equipment from the Rail Welding Services Division, leading to additional growth opportunities.
RailWorks is a portfolio company of Bernhard Capital Partners, a private equity management firm focused on services and infrastructure, with which it partners in November 2021 to drive long-term strategic growth and expand its core offerings and capabilities.
“This is an exciting time for RailWorks. These complementary acquisitions represent a significant expansion of our offerings and the ways in which we can serve our valued customers across the country,” said Kevin Riddett, President and CEO of RailWorks. “As we continue to grow our business and implement a shared vision with our partners at Bernhard Capital, we see a number of exciting opportunities to further expand our offerings and continually improve the secure, high-quality services that clients expect.” by RailWorks.”
In addition to implementing strategic growth objectives, RailWorks has also remained committed to expanding its industry-leading commitment to safety. IN May 2022, the company announced a partnership with Miller Ingenuity’s ZoneGuard product line, a road worker protection system to detect dirty vehicles entering active work zones, provide advanced technology to the RailWorks portfolio and enhance protection general of road workers. Through this partnership, RailWorks is expanding the Company’s commitment to a safety-first culture and working to accelerate the adoption of safety technology across the North American rail market.
“RailWorks services are essential to support a critical mode of transport for the majority of the country’s population,” it said Mark Spender, Partner at Bernhard Capital. “These acquisitions and our new technology partnership strengthen RailWorks’ position as an industry leader in rail system maintenance, repair and construction services. We are excited to continue to work closely with Kevin and his incredible team to further expand beyond the company’s technological offerings and solutions -oriented approach, while maintaining RailWorks’ commitment to its customers and employee safety.”
About RailWorks Corporation
Founded in 1998, RailWorks Corporation provides track construction, electrical system construction, maintenance services and products throughout United States AND Canada for major transit authorities, Class I railroads and short lines, and commercial and industrial rail service companies. Trusted RailWorks brands include LK Comstock Inc., PNR RailWorks, NARSTCO and HSQ Technology. For more information, visit www.railworks.com.
About Bernhard Capital Partners
Bernhard Capital Partners is a private equity management firm focused on services and infrastructure founded in 2013. Bernhard Capital Partners has allocated capital to four funds in several strategies, has approx. 2.9 billion dollars of gross assets under management and is ranked as one of Private Equity International’s 300 largest private equity firms worldwide. Bernhard Capital Partners seeks to create sustainable value by leveraging its experience in acquiring, operating and growing services and infrastructure businesses. For more information, visit www.bernhardcapital.com.
Bernhard Capital Partners
Ed Trissell / Kate Thompson / Erik Carlson
Joel FrankWilkinson Brimmer Catcher
SOURCE Bernhard Capital Partners Management, LP