Fort Worth based inspection, maintenance, repair and specialised construction services company American Track has completed a recapitalisation with private equity investment firm DFW Capital Partners. The company had been partnered with Hilltop Private Capital since its formation through the consolidation of two family businesses in 2016. Investment bank Harris Williams advised on the transaction.
Ricardo has become the first organisation to be accredited to ISO/IEC 17020:2012 under Canada’s Independent Safety Assessor for Railway Systems accreditation programme. ‘Canada is about to embark on a range of national and urban rail projects that must be built to the highest technical standards’, said Paul Seller, Managing Director of Ricardo’s rail division. ‘By taking advantage of global best practices and independent expert scrutiny, the travelling public can be certain that safety aspects have been embedded into designs from the earliest stages and remain at the forefront of day-to-day operations.’
Brian A Kenney is to retire as President & CEO of wagon leasing company GATX on April 22 2022, with Robert C Lyons, currently Executive Vice-President & President, Rail North America, becoming CEO. Kenney will continue as non-executive Chairman until October 31 2022 to ensure a seamless transition.
Indian wagon manufacturing and engineering company Texmaco Rail & Engineering has completed a rights issue of 71 526 643 shares for an aggregate amount of Rs1·6bn. ‘The robust response to the rights issue of the company affirms the continued confidence of shareholders in the management’, said Managing Director Indrajit Mookerjee. ‘The oversubscription is validation of the strength of the Company. It will also improve the liquidity position of the company and contribute to strengthening performance’.
Leasing company Alpha Trains has joined the United Nations Global Compact sustainability initiative, which supports companies with the development, implementation and disclosure of responsible business practices. ‘Joining the UNGC is a significant milestone for Alpha Trains as part of our commitment to corporate social responsibility and sustainability’, said CEO Shaun Mills. ‘We expect the membership to give us valuable momentum and allow us to benefit from best practices and network with other UN Global Compact participants straight away.’
The VDEI association of German railway engineers and Polish Engineering Association SITK have announced that Poland will be the ‘Guest of Honour Country’ at the IAF exhibition of railway track technology in from May 31 to June 2 2022. ‘We will be able to welcome a very innovative guest country in Münster’, said VDEI President Thomas Mainka. ‘In recent years, the Polish railway infrastructure has already been modernised to a great extent and this development is not over yet. It is also closely linked to many excellent Polish companies, which we would like to invite to participate in IAF.’