May 10, 2007 Thursday 1:29 PM GMT
RailWorks Corporation is Acquired
Wind Point Partners Teams with RailWorks Management to Acquire Company
NEW YORK - RailWorks Corporation, a leading provider of track and transit systems construction services throughout North America , announced today the acquisition of the company by Wind Point Partners, a private equity investment firm, in partnership with its management team.
RailWorks was acquired from MatlinPatterson Global Opportunities Partners, which has owned the company since 2002. The change in ownership will not affect the company’s management team or its operations, said Jeffrey M. Levy, who has served as RailWorks’ President and CEO since 2005. During that time, Levy refocused the company on its core track and transit systems construction and maintenance businesses and led successful initiatives to achieve profitable growth across all of its operations.
Today RailWorks serves a broad range of customers including Class I, II and short line railroads, transit authorities, commuter railroads, municipalities, ports and terminals, industrial facilities and power plants through its two operating groups, Track and Transit Systems. RailWorks, based in New York City , has approximately 1,300 employees at more than 30 offices throughout the United States and Canada .
“The management team should be commended for the exceptional momentum they have created at RailWorks. The transportation infrastructure market is booming and RailWorks is poised to capitalize on that growth. Wind Point is excited to partner with Jeff and his team on this investment and we are confident they can lead the company to the next level,” said Nathan Brown, a managing director at Wind Point Partners.
&nbs