Class I commodity slump a countercyclical short line bonanza
A string of still-shiny, graffiti-free tank cars rests incongruously amid white apple blossoms with Oregon’s glaciered volcano shimmering in the distance.
Iowa Pacific
. . and that’s the way things happen on The Polar Express
Railroads operated by Iowa Pacific Holdings LLC carried nearly 400,000 passengers during the holiday season, and the company is the largest franchisee of the Warner Brothers Polar Express™ brand, both in locations and number of passengers. Iowa Pacific operates holiday trains in 13 locations, including nine with the Polar Express™ franchise and four with Train to Christmas Town.
New investment capital for Iowa Pacific
Iowa Pacific Holdings, LLC announced on May 10 that it has reached a preliminary understanding with two institutional investors for up to $35 million of new capital that will be used to expand working capital availability, retire a Federal Railroad Administration RRIF loan, and fund track improvements. The company expects to close on the financing in the second quarter of 2013.
Iowa Pacific acquires Cape Rail, Inc.
Chicago-based Iowa Pacific Holdings, LLC Tuesday announced its acquisition of a controlling interest in Cape Rail, Inc., and its subsidiaries, Massachusetts Coastal Railroad, LLC and Cape Cod Central Railroad.