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Equity Partners HG Retained to Explore Financing Options for Storied Railcar Firm

October 11, 2017, 08:00 AM
Filed Under: Industry News

Railway and Industrial Services, Inc., an industrial railcar repair, restoration and rebuilding shop, has retained Equity Partners HG to seek a refinancing, joint venture or equity partner for, or to sell the land, buildings, equipment, and business. The company is a family run business with decades of experience in the railcar repair industry.

In 1933 Railway and Industrial Services, Inc. began as “Industrial Service and Salvage” performing railroad salvage and reclamation.  Under the Presidency of Erwin Vetter in 1970, the Company changed its name to Railway & Industrial Services, Inc. Vetter’s son, Richard E. Vetter, took over the presidency in 1981, and is actively engaged in the company’s operation.  For the last 17 years, RISX has performed many railcar programs, car conversions, and general lease returns and repairs. This work includes articulated car stretching and shortening, box car door conversions from single to double door cars, bulkhead flatcar service conversions and others. Additionally, the company operates a wholly owned subsidiary, Railway & Industrial Specialties, to support the repair and rebuilding operations as well as customer R&D support. 

Fred Cross, a Managing Director at Equity Partners HG, says that “This is an excellent opportunity to partner with, invest in, or acquire an established heavy car repair and metal fabrication shop with a strong history and the ability to provide customers an easy one stop solution for all their railcar needs.  Management is actively hiring direct labor employees to return revenues to the $11-15mm range that they have historically maintained.” 

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