Comet Industries has acquired Seneca Railroad and Mining, with RR Mergers & Acquisitions as advisor.
Located in northwestern Ohio, Seneca Railroad and Mining manufactures high-quality polyurethane insulated rail joints, insulated rubber plates and pads used for railroad crossings, turnouts and switches.
Comet Industries has been an industrial provider since 1963. The company specializes in the sales of new and reconditioned freight car parts to the railroad industry. In addition, it manufactures AEI (Automatic Equipment Identification) equipment for railcar, and offers optical character recognition systems and high-resolution image inspection systems for trucks and containers. The company said it “aims to continue its development through the addition of complimentary products and services.”
“We are pleased to add the Seneca team and their products to our group,” said Comet Industries President of Steve Woodson. “We believe this certainly compliments our current offerings, and we look to enhance the strong legacy of both companies.”
“We are excited to become part of the Comet family,” said Seneca President Ray Wasson. “We look forward to incorporating their experience and knowledge to better serve our diverse customer base. Joining Comet Industries will provide us new opportunities for growth and product development.”
RR Mergers & Acquisitions describes itself as having “significant experience in advising market leading rail supplier and service companies, and is widely recognized as the premier intermediary in the sale of rail sector companies.”