RailAmerica Signs Agreement to Acquire Marquette Rail for $40M

RailAmerica

today announced that it has signed an agreement to acquire Marquette Rail LLC for $40 million subject to final adjustments for working capital.  The acquisition is subject to customary closing conditions and Surface Transportation Board approval. Headquartered in Ludington, MI, Marquette operates 126 miles of track running from Grand Rapids, MI to Ludington and Manistee, MI.  Marquette interchanges with CSXT in Grand Rapids and serves customers primarily in the chemical, pulp & paper, and non-metallics industries.  Marquette hauled approximately fifteen-thousand carloads of freight during the fiscal year ended 2011.