- Cariboo Central Railroad Contracting (“Cariboo”) offers maintenance of way (“MOW”) and construction services to a variety of clients, including Class I railroads, short-line railroads, and industrial customers. The company’s infrastructure maintenance operations encompass a wide range of services such as track maintenance and repair, rail, ballast and tie replacement, track inspections, and snow removal, among other activities.
- The deal is Auxo’s third acquisition within the railroad maintenance sector, which includes previous acquisitions of Genesis Rail Services and Ferrovia Vegetation Management.
- Cariboo expands the Platform’s geographic reach into Canada and creates a further diversified railroad infrastructure and mechanical / construction services business.
- Acquisition marks Auxo’s inaugural entry into the Canadian market.
KELOWNA, BC, Aug. 23, 2023 /PRNewswire/ — Private investment firm Auxo Investment Partners announced today that it has acquired Cariboo Central Railroad Contracting, a Western Canada-based railroad infrastructure maintenance and construction service provider to Class I railroads, short-line railroads, and industrial customers. The addition, which expands Auxo’s growing railroad infrastructure maintenance platform, under the Genesis Rail Services brand, follows the acquisitions of Genesis Rail, a full-service railroad maintenance company, and Ferrovia Vegetation Management a railroad vegetation management company.
Headquartered in Kelowna, British Columbia, Cariboo is Auxo’s first acquisition in the Canadian market. Cariboo serves as a premier railroad infrastructure maintenance services provider throughout Western, Central, and Northern Canada. Its diversified service offering includes a full range of track services including new track construction, rail and tie changing, track inspection, rail, ballast and tie maintenance, snow removal, and emergency response services (derailments, fires, mechanical issues).
Cariboo will be integrated into the Genesis Rail Services Platform alongside Genesis and Ferrovia. “We are extremely excited to bring Cariboo Rail into the Genesis Rail Services portfolio of businesses,” said Allen Blythe, President & CEO of Genesis Rail Services. “Cariboo will serve as a gateway for our platform’s expansion into the Canadian market and create numerous synergies for our growing U.S.-based platform and our customers. Cariboo Central Railroad Contracting has a long history of exceeding its customers’ needs while creating an atmosphere of excellence in safety and execution in all the work they perform. We look forward to working with their management team to continue developing a best-in-class full-service portfolio our customers can depend on to meet their ever-changing needs.” Cariboo will continue to be managed locally by its current CEO, Clint Stibbard and General Manager, Bryson Gibson.
“The addition of Cariboo expands our footprint into Canada and brings a veteran team of Canadian railroaders onto the Genesis team. It has been a pleasure getting to know the Cariboo team and we are excited to welcome them into the Auxo family,” said Jeff Helminski, Managing Partner of Auxo Investment Partners.
A Long-Term, Collaborative Approach
Auxo was named after the ancient Greek goddess of growth, and the firm seeks to partner with companies that meet the following investment criteria:
- North America-based
- Manufacturing, industrial, value-added distribution or business services industries
- EBITDA (cash flow) of $2–$20 million
- Owner-operators seeking retirement, family succession planning solutions, or existing teams seeking to grow their businesses
- Prefer majority-control investments but will consider select minority-partner opportunities
About Auxo Investment Partners
Auxo Investment Partners is a Grand Rapids, Michigan-based private investment firm that partners with owners and management teams of companies at transition points in their history. Auxo’s flexible capital model allows for long-term, growth-oriented decision-making without artificial deadlines. The structure was specifically designed for family businesses facing a generational transition or management teams seeking a partner to fuel growth and achieve their full potential with a long-term investment approach. Auxo’s unique philosophy aligns the interests of its companies, their employees, the communities in which they are located and its investors to achieve optimal outcomes for all. As our name reflects, we are not merely investors, but partners. For more information, please visit www.auxopartners.com
Media Contact:
Kara Potter
(616) 980-9810
[email protected]
SOURCE Auxo Investment Partners
