Cyprium Partners, a private equity firm focused on non-controlling investments in the middle-market, has completed a new subordinated debt and preferred equity investment in Remprex to recapitalize the company’s balance sheet and fund the acquisition of Technical Services International Inc. The deal is Cyprium’s 85th non-control investment.
Remprex, headquartered outside Chicago, Illinois, provides terminal operations and access control services to Class I intermodal rail terminals and distribution centers across North America. Access control services include installation, maintenance and operation of automated gate systems and related technology infrastructure. Terminal operations include loading, unloading, and management of intermodal containers and automotive units.
“The Remprex acquisition of TSI is consistent with the company’s strategy of becoming more meaningful to the Class I railroads,” said Cindy Babitt, a partner with Cyprium. “The acquisition of TSI complements the numerous offerings Remprex already provides to the Class I intermodal yards and the combined entity should provide for better more efficient service. We are proud to support Remprex in this acquisition.”
“We are very pleased to have Cyprium as a financial partner to Remprex”, said Remy Diebes, CEO of the company. “Remprex is a growth company. In addition to providing capital to support our growth we look forward to working collaboratively with the team at Cyprium Partners and expect that we will benefit greatly from their insight and perspective as we continue to build Remprex.”
Cyprium managing director Nicholas Stone spoke about the deal at Mergers & Acquisitions’ Rising Stars of Private Equity SPEAK event. For more on this story, take a look at his appearance at our panel on closing deals before the tax policy overhaul from the event.