March 2, 2017

Bundy Group Advises Appalachian Railcar Services, Inc. in a Sale to GenNx360 Capital Partners.

Bundy Group, a boutique investment bank, advised Appalachian Railcar Services, Inc. (“ARS” or the “Company”), a railcar repair, railcar storage, plant loading and unloading, and short line switching operation with 47 locations across 18 states in its sale to GenNx360 Capital Partners (“GenNx360”), a New York-based private equity firm investing in middle market companies. ARS was advised exclusively by Bundy Group in the sale process to GenNx360.

ARS serves a well-diversified customer base covering multiple industries, including agriculture, chemicals, manufacturing, energy, food processing, and rail logistics. In addition, several of ARS’ railcar repair locations are certified tank car repair locations.

“We are looking forward to working closely with ARS management to further accelerate the growth ARS has enjoyed. We are confident that the combination of ARS’ strong and well-established brand and GenNx360’s knowledge in the industry will help them to expand the service offering to their customers,” said Monty Yort, the Managing Partner at GenNx360 who led the transaction.

“The entire ARS management team is excited to partner with GenNx360,” said Kurt Higginbotham, President and CEO. “This represents a new chapter for ARS and will allow us to accelerate a number of growth programs already in progress. Joining a company with the operational expertise and capabilities of GenNx360 additionally opens up many possibilities for improvement and growth.”

The Bundy Group team was led by Managing Director Jim Mullens. ARS represents Bundy Group’s second closed transaction over the past twenty-four months in the railcar repair services industry.

About Appalachian Railcar Services

Appalachian Railcar Services is one of the largest railcar repair companies in the U.S. ARS provides an extensive range of industrial logistics services, including tank and general railcar repair, rail logistics, plant loading and unloading, short line switching operations, and railcar storage. The Company operates throughout the mid-Atlantic, Northeast and Midwest regions. ARS is also one of the largest providers of railcar storage in the U.S. with over 12,000 car spots. In addition, several of ARS’ railcar repair locations are also certified tank car repair locations. ARS’s client list boasts of numerous Fortune 500 companies spread across multiple industries, including agriculture, chemicals, manufacturing, energy, food processing, and logistics. Founded in 2000 and headquartered in Eleanor, West Virginia, the Company has expanded into a national footprint across 47 facilities in 18 states, has over 400 employees and the management team has over 100 years of industry experience. For more information about Appalachian Railcar Services, visit: www.apprailcar.com.

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 for clients. The 27-year old firm has closed over 200 transactions. For more information visit: www.bundygroup.com.