Regional Rail LLC, a portfolio company of 3i Group, struck a deal to acquire Carolina Coastal Railway Inc., an operator of 180 miles of freight railroad in North Carolina and South Carolina, according to 3 February 3i press release.
The terms of the deal were not disclosed.
Carolina Coastal provides freight transportation and car-storage services to over 45 blue-chip customers, operating across a variety of end markets, primarily in eastern North Carolina.
3i invested in Regional Rail in 2019 and subsequently expanded the platform in January 2020 with the acquisition of Pinsly Railroad Company’s Florida operations. Today, the company provides freight transportation, railcar storage and transloading services in New York, Pennsylvania, Delaware and Florida across six railroads with over 360 miles of track.