An investor group led by TorQuest Partners has acquired majority interest in A&B Rail Services Ltd.
Edmonton, Canada-based A&B provides rail maintenance, construction and related services in Canada. The company was backed by private equity firm Fulcrum Capital Partners.
TorQuest is a Toronto-based private equity firm. The firm is invested in Kissner, a rock salt manufacturer, and Pinova Holdings, a specialty chemical company.
Fulcrum, headquartered in Vancouver, provides private equity and mezzanine financing to Canadian middle market companies, including Allied Global Holdings Inc. and Bri-Chem Corp. The firm manages two private equity funds with $350 million in committed capital and a mezzanine finance business with $400 million in committed capital.
Jason Bass, Joe Conner, Jeff Burkett and Wayne Harrington from Harris Williams & Co. advised A&B on the deal.