Bernhard Capital Partners Management, LP, a services and infrastructure private equity management firm, has completed the acquisition of RailWorks Corp, a rail infrastructure services provider. The deal was previously announced on October 1st. RailWorks Corporation provides track construction, electrical systems construction, maintenance services and products throughout the United States and Canada for major transit authorities.
“We are excited about the opportunities ahead with RailWorks and look forward to supporting the Company’s best-in-class rail infrastructure solutions,” said Jim Bernhard, a partner at Bernhard Capital. “Our investment in RailWorks is an exciting opportunity for us to partner with the leading provider of maintenance and construction services in the rail space, and comes at a critical time given the recent passing of the Infrastructure Investment and Jobs bill.”
‘As a well-respected industry leader for specialty construction and maintenance services, we are excited to continue our growth,” added Kevin Riddett, RailWorks’ president and CEO. “We will support the expanding rail infrastructure needs of North America and believe Bernhard Capital’s expertise will make valuable contributions to our efforts.”
J.P. Morgan and Bank of Montreal served as financing partners in this transaction. Kirkland & Ellis LLP served as legal counsel and Houlihan Lokey provided financial due diligence support to Bernhard Capital.