Bernhard Capital Partners Management is the new owner of RailWorks Corp., a track construction and maintenance services provider; it completed the acquisition from Wind Point Partners on Nov. 10.
RailWorks’ President and CEO Kevin Riddett and the executive team will remain with the company, which comprises PNR Railworks, a track construction, rehabilitation and maintenance company in Canada; LK Comstock, a transit rail systems specialty electrical contractor; and NARSTCO, a manufacturer of steel crossties and turnout crosstie sets that RailWorks acquired in 2018.
“We are excited about the opportunities ahead with RailWorks, and look forward to supporting the company’s best-in-class rail infrastructure solutions,” said Jim Bernhard, a partner at Bernhard Capital. “Our investment in RailWorks is an exciting opportunity for us to partner with the leading provider of maintenance and construction services in the rail space, and comes at a critical time given the recent passing of the Infrastructure Investment and Jobs bill.”
“We are pleased that the transaction has closed,” Riddett said. “As a well-respected industry leader for specialty construction and maintenance services, we are excited to continue our growth. We will support the expanding rail infrastructure needs of North America and believe Bernhard Capital’s expertise will make valuable contributions to our efforts.”