The resurrection of San Luis Valley’s economic engine begins
DENVER , Oct. 12, 2022 /PRNewswire/ — OmniTRAX, Inc., a comprehensive supply chain, industrial development, and logistics solutions partner, and the transportation affiliate of The Broe Group, has entered into a contract to purchase the assets of the San Luis and Rio Grande Railroad (SLRG) out of bankruptcy. The acquisition marks OmniTRAX’s 26th rail operation, expanding its rail network to more than 2,000 miles across North America, while doubling its Colorado footprint. The parties expect to close the transaction in late 2022.
“As a Colorado company, we know how important the SLRG has been to the San Luis Valley and Colorado’s economy,” said OmniTRAX CEO Dean Piacente. “The Broe Group companies have grown with Colorado for 50 years and we are proud to help revitalize this railroad to bring more business and jobs to the region and our state.”
Originally constructed in 1870, the 155-mile railroad has played a vital role in moving freight throughout the west. The SLRG also provides a key state-wide freight connection between the San Luis Valley and Colorado’s eastern plains. OmniTRAX’s acquisition offers expanded reach for the line’s active rail customers and provides new opportunities to grow the region’s economic base.
“The SLRG removes tens of thousands of trucks from Colorado’s highways and the Sangre de Cristo Mountain range’s scenic La Veta pass,” added Piacente. “Rail continues to be the most eco-friendly freight solution over land and that’s especially important to such a vibrant part of our state.”
About OmniTRAX, Inc.
As one of North America’s largest and fastest growing private railroad and transportation management companies, OmniTRAX’s core capabilities range from providing transportation and supply chain management services to railroad and port companies, to providing intermodal and industrial switching operations to railroads, ports and a diverse group of industrial companies. Through its affiliation with The Broe Group and its portfolio of managed companies, OmniTRAX also has the unique capability of offering specialized industrial development and real estate solutions, both on and off the rail network managed by OmniTRAX. For more information visit omnitrax.com.
About The Broe Group
Founded in 1972, The Broe Group is a private, multi-billion-dollar investment group with diversified holdings in real estate, rail, infrastructure, energy, agriculture, water, healthcare and technology throughout 37 North American states and provinces. Its deep operational knowledge derived from owning and operating multi-billion-dollar businesses and the global economic insights gleaned from serving its vast Fortune 500 clientele are strategic differentiators. The Broe Group’s entrepreneurial focus enables it to find true value wherever it resides. For more information, visit broe.com.
SOURCE OmniTRAX
