TRM Equity Buys Some of National Railway Equipment's Assets
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TRM Equity has acquired some of the assets of National Railway Equipment Co., the Southfield, Mich.-based private equity firm said May 2.
NRE provides locomotive, marine and engine services.
Headquartered in Mount Vernon, Ill., NRE has facilities on six continents. The company employs more than 300 people at its U.S. facilities. The transaction was completed May 2.
TRM did not provide a price for the deal.
A snarled global supply chain, leadership changes, inflation and the pandemic took a toll on NRE’s performance over the past five years, TRM Managing Director Jeff Stone said in a statement, adding that the deal would allow NRE to capitalize on a large and growing backlog of orders.
TRM Equity is a private equity firm that seeks controlling investments in manufacturers it believes can be transformed.
Among its previous acquisitions were Pacific Steel, which makes steel castings for heavy-duty trucks; Stahl Specialty Co., a supplier of aluminum castings for heavy-duty trucks; Midland Stamping & Fabricating, a provider of contract metal stampings and fabrications for trailer manufacturers; and Dalton Corp., which makes iron castings for heavy-duty truck transmissions. — Transport Topics
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