A portfolio company of 3i Group has acquired short haul rail operator Pinsly Railroad Company, said sources close to the situation.
Regional Rail acquired the Jacksonville, Florida-based Pinsly, an owner and operator of 208 miles of track across three short-line railroads.
The privately held Pinsly retained BMO to run a process. 3i did not utilize an investment banker.
Pinsly provides freight transportation, transload and railcar-storage services to a broad customer base of over 65 blue-chip companies covering a diverse set of end-markets, including heating, fuel blending, building products, chemicals, food and agriculture, scrap metal and plastic resins.