About Patriot Rail Corp.
Patriot Rail Corp. is a short line and regional freight railroad holding company based in Boca Raton, Florida. The Company is led by Gary O. Marino, former Chairman, President and CEO of RailAmerica, Inc. (NYSE: RA). Mr. Marino has assembled an exceptional management team comprised of senior managers from the Class I, short line and regional railroad – more... sectors who collectively possess more than 300 years of railroad experience. The management team has successfully acquired and operated railroads in the United States, Canada, Australia, Chile and Argentina.
In addition to equity capital provided by the principals and affiliated investors, Patriot Rail has partnered with Prudential Capital Partners. Patriot Rail's mission is to purchase and operate short line and regional freight railroads in North America which will enable it to work with local rail management teams to provide customers with first class transportation solutions focused on safety, enhanced service and increased reliability.
Patriot Rail's President and CEO, Gary O. Marino, co-founded RailAmerica and built it into the world's largest short line and regional railroad company with over 2,800 employees, $500 million in revenue, $1.2 billion in assets, and more than 15,000 route miles. Under his direction, RailAmerica consummated 32 acquisitions comprising more than 75 railroads, totaling over $750 million in purchase price.
The Patriot Rail management team, while at RailAmerica, successfully operated two international railroads which were acquired from the Chilean and Australian governments through privatization processes. In 1997, they acquired the 1,400 mile Chilean railroad, Ferronor S.A, which operates the only north-south railroad in northern Chile, extending from LaCalera, near Santiago, to its northern terminus at Iquique, just south of the Peruvian border. In 2004, Ferronor was sold for over $18 million, almost three times more than its original purchase price.
In 1999, while leading RailAmerica, Mr. Marino and his team acquired Australia's V/Line Freight Railroad from the Victorian government for $103 million, which included the purchase of 107 locomotives and over 2,800 rail cars. This regional railroad provides rail freight service across southeastern Australia in and around Melbourne over 3,150 miles of track. The management team quickly rationalized the work force and dramatically improved the railroad's operating performance and financial results. The railroad was sold in 2004 for over $200 million.
Patriot Rail currently owns and operates 12 short line freight railroads comprising approximately 500 total rail miles in 12 states -- the Tennessee Southern Railroad in Tennessee and Alabama; the Butte, Anaconda & Pacific Railway in Montana; the Utah Central Railway in Utah; the Sacramento Valley Railroad in California; the Louisiana and North West Railroad in Louisiana and Arkansas; the Temple & Central Texas Railway in Texas; and the Piedmont & Northen Railway in North Carolina; the DeQueen & Eastern Railroad in Arkansas; the Texas, Oklahoma & Eastern Railroad in Oklahoma; the Golden Triangle Railroad in Mississippi; the Columbia & Cowlitz Railway in Washington; and the Patriot Woods Railroad in Washington.
The management team intends to continue to grow Patriot Rail through a series of railroad acquisitions in North America. Providing customized transportation solutions in a safe and cost efficient manner is the goal of all the employees of Patriot Rail. Investing in customers, employees, and the communities we serve is the Patriot Rail way. – less – More from ZoomInfo »
