Baton Rouge-based Bernhard Capital Partners Management inked a deal to acquire RailWorks Corp. from a Chicago private equity firm.
New York-based RailWorks provides construction and maintenance services to railroads and transit authorities. Its closest track office to Louisiana is in Beaumont, Texas.
The deal is expected to close by the end of the year for an undisclosed amount.
RailWorks has been growing for the past decade, according to the business. Its management team and CEO, Kevin Riddett are expected to remain after the deal closes.
"We have long recognized that rail would be an important component of our infrastructure services-focused investment strategy," said Mark Spender, managing director at Bernhard Capital in a statement.
Bernhard Capital already owns a stake in Lafayette-based general contractor The Lemoine Co. after a deal closed in 2019. Bernhard Capital portfolio companies also include Bernhard LLC in Metairie; Brown and Root in Baton Rouge; Allied Power in Baton Rouge; National Water Infrastructure in Ascension; Atlas Technical Consultants in Austin, Texas; Bernhard Energy Solutions in Baton Rouge; Charah Solutions in Louisville, Kentucky; Epic Piping in Livingston; United Utility in Charlotte, North Carolina; and Green Meadow Sustainable Solutions in Mississippi.
The worldwide portfolio companies under Bernhard Capital employ more than 18,000 people.