American Railcar Industries

John O’Bryan, CEO, A. Stucki Co.

O’Bryan to Lead A. Stucki Co.

John O’Bryan has been appointed CEO of A. Stucki Co., a Pittsburgh, Pa.-based provider of engineered components, systems and services for the railroad industry and other markets.

Greenbrier acquiring ARI

In a transaction valued at $400 million, the Greenbrier Companies, Inc. (GBRX) has entered into an agreement to acquire the manufacturing business of American Railcar Industries (ARI) from ITE Management LP (ITE), the hedge fund that bought ARI from investor Carl Icahn in December 2018. GBX said the result will be “a larger U.S. railcar manufacturing footprint, adding ARI’s two manufacturing facilities in Arkansas. It will employ more U.S. workers at cost-competitive and flexible facilities, with a more-efficient delivery model throughout North America, due to lower transportation costs.”

Carl Icahn knows rail investing

Financial Edge, December 2018 Railway Age: On Oct. 22, American Railcar Industries Inc. (ARI) announced that it was being acquired by a subsidiary of ITE Rail Fund L.P. (ITE). The acquisition price was $70 per share, for a total purchase price (including debt) of $1.7 billion. That price represented a 51% premium to the previous day’s close (Oct. 19) of $46.29 per share. As ITE is privately held, ARI will become a private company at acquisition.

Hedge fund to acquire carbuilder ARI

Amid a surging market for new railcars, American Railcar Industries agreed to sell itself back to a group led by its former founder and CEO at a premium more than 50% above its share price.