OmniTRAX Affiliate Acquires Heart of Texas Railroad
A managed affiliate of OmniTRAX, Inc. 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. 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 frack 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,” said Kevin Shuba, CEO of OmniTRAX. “As a distressed asset that can be turned around with our expertise, it’s right in our sweet spot. 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.”
As one of North America’s largest privately-held railroad and transportation management companies, OmniTRAX’s core capabilities range from providing management services to railroad and port services to intermodal and industrial switching operations. Through its affiliation with The Broe Group and its portfolio of managed companies, OmniTRAX also has the capability of offering specialized industrial development and real estate solutions, both on and off the rail network managed by OmniTRAX.
The Broe Group and its affiliates own and/or manage commercial real estate and other businesses across North America.
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