A managed affiliate of OmniTRAX, Inc., one of the largest privately held transportation services companies in North America and an affiliate of the Broe Group, is purchasing the Heart of Texas Railroad (HTR) from private local investors.
The transaction is subject to surface transportation board approval and terms were not disclosed.
The rail line, which is being renamed Central Texas & Colorado River Railway LLC, operates 68 miles of track running due west from Lometa, Texas, where it interchanges with BNSF, to Brady, Texas. Potential new customers include an aggregate quarry, a cement factory and frac sand producers.
“The Central Texas & Colorado River Railway is a great opportunity for OmniTRAX with at least three good long-term mineral prospects on the line. As a distressed asset that can be turned around with our expertise, it’s right in our sweet spot,” said Kevin Shuba, CEO of OmniTRAX. "We want to thank the sellers for their efforts in starting to implement a restructuring plan and making the closing of the transaction as smooth as possible.”
Read the article online at: https://www.drybulkmagazine.com/rail-barge/12052016/omnitrax-affiliate-purchases-heart-of-texas-railroad/