Acquires Certain Railcar Maintenance Assets of Northern Plains Rail Services
WEST FARGO, N.D.--(BUSINESS WIRE)--LongWater today announced the formation of Cypress Rail Solutions ("Cypress"), a new railcar services company that it formed in partnership with longtime industry executives Randy Meyer and Brian Trammell. Today, Cypress announced its first acquisition: certain railcar maintenance assets of Northern Plains Rail Services ("Northern Plains"), a diversified provider of rail services. Cypress plans to build a significant railcar services platform through additional expansion and investment.
The railcar maintenance assets that Cypress is acquiring include locations in North Dakota and Minnesota, as well as a strong base of loyal and talented employees. Northern Plains' railcar maintenance team has a long-standing reputation for high quality service and safety, which are two of Cypress' core values.
"The rail services industry is underserved in the upper Midwest and we see tremendous opportunity to deliver a differentiated solution for our customers," said Neil West, Senior Managing Director at LongWater who has significant prior experience in the rail industry. "We are excited to support Brian and Randy as they build Cypress Rail Solutions through further expansion in additional geographic markets."
"We are thrilled to launch Cypress Rail Solutions with the support of LongWater, which has a strong track record of supporting executives who are building businesses in industrial sectors," said Mr. Trammell and Mr. Meyer. "Northern Plains is a great first acquisition for Cypress that provides a strong foundation across the United States and Canada. We look forward to collaborating with LongWater to build the Cypress platform in the coming years."
Prior to co-founding Cypress, Mr. Meyer and Mr. Trammell had distinguished careers in the rail industry.
About LongWater
Founded in 2009, LongWater is an alternative asset management firm focused on the lower middle market. The firm offers its investors access to a range of investment products, including private equity, private credit, and primary capital commitments. LongWater has offices in Fargo, ND, Dallas, TX and St. Louis, MO. To learn more, visit .
Contacts
For further information:
Mark Semer / Sam Cohen
Gasthalter & Co.
212-257-4170
longwater@gasthalter.com