Press Release – Charlotte, NC – January 2015
Bundy Group, a boutique investment bank with offices in Roanoke, Virginia, and Charlotte, North Carolina, is pleased to announce the sale of BRC Rail Car Service Company, Inc. (“BRC” or the “Company”), a tank car repair and services company located in Lynchburg, VA. BRC was acquired by Appalachian Tank Car Services, Inc. a division of Appalachian Railcar Services, Inc. (“ARS”). ARS is a West Virginia based company that specializes in rail car repair services. The purpose of the sale was to obtain liquidity for the BRC shareholders and to provide ARS with a tank car certified partner that could help accelerate the growth of the company. Bundy Group served as exclusive advisor to ARS in the acquisition of BRC. Jim Mullens of Bundy Group was the lead advisor on the deal.
“BRC is a first class organization,” said Kurt Higginbotham, President of ARS. “We are excited to join forces with a company as equally diverse and resourceful as Appalachian Railcar Services, Inc. I believe that our combined company will offer our clients a full array of both railcar and tank car repair solutions.”
About BRC Rail Car Service Company, Inc.
BRC Rail Car Service Company, Inc. (BRC) has locations in Lynchburg, VA, Elk Mills, MD and Hinton, WV. BRC is a full-service tank car certified facility providing repair, cleaning and interior and exterior coating capabilities. BRC provides services to a number of Fortune 500 companies that represent a variety of industry segments, including chemical, aggregate, and energy.
About Appalachian Railcar Services, Inc.
Appalachian Railcar Services, Inc. (ARS), headquartered in Eleanor, WV, has multiple locations across 14 states. ARS is a multi-disciplinary rail services organization serving customers throughout the Mid-Atlantic, Northeast and Midwest regions. It offers an assortment of services that include railcar maintenance and repair, short line railroad operations, coal loading and unloading, track maintenance, fleet management, and brokerage services.
About Bundy Group
Bundy Group is a boutique investment bank with offices in Roanoke, Virginia and Charlotte, North Carolina. The company specializes in representing business owners and management teams in business sales, acquisitions and capital raises. The 25-year old firm has closed over 200 transactions across a broad range of industries.