OmniTrax a US rail operator, and an affiliate of The Broe Group, entered into a definitive agreement to acquire Winchester & Western Railroad (WW) from Covia Holdings Corporation.
The USD 105 million acquisition is expected to close during the third quarter of 2019 and is subject to customary closing conditions, including Surface Transportation Board review.
The acquisition expands the OmniTrax-managed short line portfolio into key new distribution locations in multiple east coast markets, providing OmniTrax’s customers access to 100 million people within a day’s transit.
“OmniTrax has been growing at an average annual rate of 20+ percent for the past five years and the acquisition of this strategic distribution hub is a deliberate step toward enhancing the continued growth and strength of our thriving network,” Kevin Shuba, OmniTrax CEO said.
The 101 year-old Winchester & Western is a shortline operator in Maryland, New Jersey, West Virginia and Virginia.
Winchester & Western Railroad is a Class III shortline operator operating on two separate divisions. The Virginia Division has 85 km of track and operates through Maryland, Virginia and West Virginia, moving 15,000 loads per year. The 76.5 km New Jersey Division operates in southern New Jersey and moves 11,000 loads per year.