Patriot Rail Completes Acquisition of SLGW

Written by Marybeth Luczak, Executive Editor
“With the SLGW, we look forward to working with customers, state and local leaders, and other key stakeholders to support future growth,” Patriot CEO John Fenton said.

“With the SLGW, we look forward to working with customers, state and local leaders, and other key stakeholders to support future growth,” Patriot CEO John Fenton said.

Jacksonville, Fla.-based Patriot Rail Co. LLC has finalized its acquisition of 26-mile Salt Lake Garfield & Western Railway (SLGW) and its storage and transload service providers, Caballero LLC and Caballero 2 LLC, in Utah. Terms of the deal were not disclosed.

Patriot announced the purchase agreement in the fall. It is the first purchase for Patriot since it was acquired in October 2019 by Sydney, Australia-based global asset manager First Sentier Investors, which manages $157 billion in global assets (as of Sept. 30, 2020).

SLGW handles more than 6,000 carloads annually of fuel-related, forest, bulk commodity, metals, and other products, and interchanges with Union Pacific and BNSF.

SLGW photo by James Belmont.

“The SLGW has been a long-trusted railroad in the Salt Lake City area for more than 125 years,” Patriot CEO John Fenton said. “We are proud to carry that legacy forward for our customers. This addition to the Patriot portfolio strengthens our ability to continue providing competitive and innovative transportation solutions in the western region of the United States.”

Patriot now operates 13 short line railroads throughout the U.S. Among them: 63-mile Butte, Anaconda & Pacific Railway (BAP) in Montana, 91-mile DeQueen & Eastern Railroad (DQE) in Oklahoma and Arkansas, and 149-mile Tennessee Southern Railroad (TSRR) in Tennessee and Alabama. Additionally, it operates three rail-related service companies; a scenic rail excursion train; and five breakbulk and container terminals and an off-port cold storage facility, which are located in the southeastern U.S.

Patriot CFO Matt Nelson

In related news, Patriot has promoted Matt Nelson to Chief Financial Officer, succeeding Jennifer Whiteman. Nelson joined the company in 2020 and served most recently as Vice President-Accounting and Finance. He has also held various leadership positions in finance, treasury, accounting and investor relations within the rail and environmental services industries, including 10 years at CSX and Advanced Disposal Services.  

“Matt’s leadership skills, financial acumen and relevant industry experience positions him well to make this important transition a smooth one,” Fenton said. “We look forward to him continuing to build on the strong foundation set by Jennifer and helping us to achieve our vision of being the premier rail, rail services and port services company in North America.”

Tags: , , , ,