2020 Work Summary
- Created final design and track layout for butene unloading facility off UP’s mainline near Houston, Texas. Developed a detailed scope of work, a material and labor cost estimate, and a detailed schedule for project competition. Work included an estimate of site location preparation, earth movement costs, and the initial preparation of bid packages. Project cost: $5 million.
- Assessed the physical plant of two private equity group-owned railroads in the Southeast United States. Assessed short- and long-term capital planning for current and projected physical plant conditions via detailed field inspections. Provided recommendations for organization and staffing. Set up operating budgets, maintenance plans, and grant work scoping. Continued periodic follow-up calls with owners to ensure a successful conclusion.
- Performed due diligence for a mid-sized private equity group for the purchase of five railroads located in Kansas, Texas, Oregon, Washington, New Mexico, and Arizona. Assessed existing physical plant condition and developed a five-year capital and operating plan. Developed plans for internal rail flaw testing, track geometry testing, staffing, and vegetation control. Wrote comprehensive report and formal letter related to compliance issues for a multi-million-dollar federal grant application Project cost: $30 million.
- (Repeat Customer) Performed due diligence for a mid-sized equity group in a large central Ohio inland port industrial facility. Developed an infrastructure maintenance plan as well as a five-year capital plan. Also rationalize the current physical plant to fit current operational requirements.
- Reviewed legacy access and usage agreements and advised negotiating strategy for future agreements between Class I and short line railroad connections for a river port in Oklahoma. Assessed the physical plant condition, the current state of contractual compliance, and developed recommendations to improve these items.
- Performed due diligence on large Northeastern regional railroad. Analyzed materials in a data room and during onsite field inspections. Handled all infrastructure areas, including track, crossings, signals, PTC items, bridges, terminals, and more on behalf of a large New York-based private equity fund. Participated in identifying opportunities to increase EBITDA through targeted cost reductions & revenue growth. Provided information needed to estimate valuation of acquisition target. Project cost: $700 million.
- (Repeat Customer) Performed due diligence on large family of seven railroads, with two currently providing heavy industrial switching service. Handled all infrastructure areas on behalf of a New York-based large private equity firm. Identified workforce reductions, new business, quantified potential business growth opportunities, reviewed union agreements, and developed long term capital and operating budgets which were validated via thorough physical plant and facilities inspections. Developed short- and long-term business plans and strategies for potential acquisition. Evaluated the locomotive and rail car fleet.Project cost: $650 million.
- Participated in sell side of two separate railroad track & signal companies – nothing consummated in 2020, project ongoing in 2021. $10 to $50 mm acquisition range.
- Analyzed potential business opportunity (possible purchase) of a company that provides environmental clean-up and facility construction for Class I and regional railroads in the Rocky Mountain region. Worked with investment group to determine enterprise value and participated throughout the process from offer to purchase.