Railmark acquires Katahdin Railcar Services LLC

Railmark Holdings, Incorporated announced that it has acquired Katahdin Railcar Services LLC, a certified Association of American Railroads M-1002 and M-1003 railcar and tank car repair company located in Derby.

Katahdin Railcar Services LLC also provides its services  throughout New England through its mobile repair service teams. The acquisition adds AAR-certified tank car repair to Railmark’s national network, bringing the company to 13 operating locations in 11 states, three of which are shortline railroads. BMO Capital Markets acted as the exclusive financial advisor to Railmark.  

Railmark’s plans for Katahdin Railcar Services LLC include expanding the brand to additional U.S. locations where demand for tank car repair services continues to grow. The facility has historically served the New England region and the CPKC line, and its capabilities include North America’s only robotic tank car cleaning system. Together with Railmark’s Canadian subsidiary Railmark Canada Limited, Katahdin Railcar Services LLC will expand its mobile repair  services into the provinces of New Brunswick and Quebec.  

“Katahdin brings Railmark a skilled team and an AAR-certified facility with real depth in tank  car repair,” B. Allen Brown II, Railmark president and CEO, said. “Combined with Railmark’s  existing locations, it is a strong strategic fit. This facility gives Railmark a base from which to  grow its tank car repair capability across North America, well beyond Maine. And with  Railmark’s business model, Katahdin will be increasing its footprint in Maine and the  surrounding area.”