Tuesday, August 20, 2013

Private equity firm acquires Nordco, Inc.

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Private equity firm acquires Nordco, Inc. Nordco Equipment Services

Nordco Inc. said late Monday, Aug. 19, 2013, that it has been acquired by Greenbriar Equity Group LLC, a New York-based private equity firm focused on global transportation. Terms of the transaction were not disclosed.

Nordco will immediately become a majority-owned Greenbriar portfolio company. Hughes Hubbard & Reed LLP acted as legal counsel to Greenbriar.

Oak Creek, Wis.-based Nordco supplies new, rebuilt, and used maintenance-of-way equipment with a broad product and service portfolio, including ultrasonic rail flaw detection and mobile railcar movers.

Nordco plans a rollout of new product offerings late next month at the AREMA annual meeting, being held in conjunction with Railway Interchange 2013 in Indianapolis, Ind.

"Nordco has established itself as a leading service provider in the railroad industry, providing critical support to its blue chip customer base," said Greenbriar Equity Group Director Michael Weiss. "We are excited to be partnering with CEO Bruce Bockiewicz and his executive team and look forward to further accelerating the company's growth trajectory organically and through add-on acquisitions."

Said Nordco CEO Bruce Boczkiewicz, "This transaction marks an important milestone in our company's development. We are eager to work with our new partner Greenbriar, a firm that has a long history of working collaboratively with management teams to add value to its portfolio companies through their industry knowledge and network of relationships."