Railmark Acquires Katahdin Railcar Services LLC

Acquisition adds AAR-certified tank car repair and mobile repair service teams in Derby, Maine, expanding Railmark to 13 operating locations in 11 states

HENDERSON, Ky.--(BUSINESS WIRE)--Railmark Holdings, Incorporated (www.railmark.com) announced today that it has acquired Katahdin Railcar Services LLC (www.krsrail.com), a certified Association of American Railroads (AAR) M-1002 and M-1003 railcar and tank car repair company located in Derby, Maine. Katahdin Railcar Services LLC (KRS) also provides its services throughout New England through its Mobile Repair Service Teams. The acquisition adds AAR-certified tank car repair to Railmark's national network, bringing the Company to thirteen operating locations in eleven states, three of which are shortline railroads. BMO Capital Markets acted as the exclusive financial advisor to Railmark.

Railmark's plans for KRS include expanding the brand to additional U.S. locations where demand for tank car repair services continues to grow. The KRS facility has historically served the New England region and the CPKC line, and its capabilities include North America’s only robotic tank car cleaning system. Together with Railmark's Canadian subsidiary Railmark Canada Limited (www.railmark.ca), KRS will expand its mobile repair services into the provinces of New Brunswick and Quebec.

“Katahdin brings Railmark a skilled team and an AAR-certified facility with real depth in tank car repair,” stated B. Allen Brown II, Railmark's President & CEO. “Combined with Railmark's existing locations, it is a strong strategic fit. This facility gives Railmark a base from which to grow its tank car repair capability across North America, well beyond Maine. And with Railmark’s business model, Katahdin will be increasing its footprint in Maine and the surrounding area.”

ABOUT RAILMARK: Founded in 1998, RAILMARK® provides unique, cost-effective, integrated and environmentally safe rail services, products, and solutions to the North American and international railroad industry, rail transportation users, transit agencies, and governments, that reflects “A NEW TRAIN OF THOUGHT …®”. Railmark's principal operating subsidiaries are RAILMARK TRACK WORKS INC., RAILMARK RAIL SERVICES INC., KATAHDIN RAILCAR SERVICES LLC, RAILMARK INDUSTRIAL RAILWAY INC., YREKA WESTERN RAILROAD COMPANY, and TRAIN TRAVEL, INC. Railmark offers the railroad industry’s only EPA-approved and USDA-designated biobased rail lubricants under its ECORail® products line.