In a transaction brokered by RR Mergers & Acquisitions, Rio Grande Pacific Technology, Inc. (RIOTECH) as acquired Innovative Solutions In Signaling, LLC.
Innovative Solutions’ engineering offices will remain in Louisville, Ky., while RIOTECH’s headquarters will remain in Fort Worth, Tex. Innovative Solutions President Rob Burkhardt and Vice President, John Spellman will remain with the new company. “This is truly a situation where the sum is greater than the parts,” said Burkhardt. “The new team will be able to provide services we weren’t able to before, which means we can do a better job for our customers.”
“RIOTECH recognizes Innovative Solutions’ expertise in its market segments and will retain all staff in their current positions,” RIOTECH President and CEO Greg Hackbarth said. “This is an exciting acquisition that extends our market line and provides access to new rail projects and customers. Having worked with the talented staff at Innovative Solutions for more than 15 years, we recognize the tremendous potential of combining our teams and welcome Rob’s entire group aboard.”
Both companies “are leaders in freight and transit railway system design, wayside and grade crossing engineering, application software development, Positive Train Control technologies and consultation support services for customers across the United States,” RR Mergers & Acquisitions noted. “RIOTECH provides next-generation software, ruggedized hardware and cloud-based monitoring systems to freight and transit agencies, and also delivers comprehensive project oversight and consultation services based on three decades of operation and technical experience.”
RIOTECH parent company Rio Grande Pacific Corp. is a privately held, Fort Worth -based holding company of regional freight railroads. Through various subsidiaries, Rio Grande Pacific provides complementary services, including signal design, engineering consultation, material integration services, rail operations support, maintenance-of-way equipment remanufacturing and railway dispatching services to freight and transit agencies.