NORTH AMERICA: Middle-market investor Connor, Clark & Lunn Infrastructure has announced a partnership with Alpenglow Rail’s short line management team with the aim of developing a portfolio of rail businesses across North America.
As part of this, CC&L has acquired VIP Rail from private equity firm and Alpenglow backer Stonecourt Capital. VIP Rail provides last-mile and wagon storage services in the Chemical Valley area of Sarnia, Ontario, and was acquired by Denver-based Alpenglow in 2017 in its first transaction.
‘CC&L Infrastructure is pleased to expand its portfolio of traditional infrastructure assets with the acquisition of this strategic rail business’, said CC&L Infrastructure President Matt O’Brien on September 10. ‘We look forward to working with the world-class team at Alpenglow Rail to acquire and operate a base of complementary rail assets in Canada and the USA.’