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RailWorks, Bernhard Capital Partners Complete Acquisition

NOVEMBER 15, 2021 PUBLISHED BY EMILYFELIZ
RailWorks

Bernhard Capital Partners Management, LP (“Bernhard Capital”) a services and infrastructure-focused private equity management firm, has completed the acquisition of RailWorks, North America’s leading rail infrastructure solutions provider.

“This acquisition combines the infrastructure investment expertise of Bernhard Capital Partners with RailWorks’ leadership in the specialty construction and maintenance services for the North American rail industry, under its longstanding brands L.K. Comstock, RailWorks, PNR RailWorks (Canada), and NARSTCO (Steel Ties),” said Kevin Riddett, RailWorks President and CEO. “We will continue to support our valued customers in the expanding rail infrastructure market across North America and believe Bernhard Capital’s expertise will make valuable contributions to our efforts.”

The acquisition was first announced in September.

Riddett will continue to serve as RailWorks’ President and CEO, and the Company’s executive team remains unchanged.

“We are excited about the opportunities ahead with RailWorks and look forward to supporting the Company’s best-in-class rail infrastructure solutions,” says Jim Bernhard, a partner at Bernhard Capital. “Our investment in RailWorks is an exciting opportunity for us to partner with the leading provider of maintenance and construction services in the rail space and comes at a critical time given the recent passing of the Infrastructure Investment and Jobs bill.”

J.P. Morgan and Bank of Montreal served as financing partners in this transaction. Kirkland & Ellis LLP served as legal counsel and Houlihan Lokey provided financial due diligence support to Bernhard Capital.

About Bernhard Capital Partners

Bernhard Capital Partners is a services and infrastructure-focused private equity management firm established in 2013. Bernhard Capital Partners has deployed capital in three funds across five strategies, has approximately $2.5 billion of gross assets under management, and is ranked as one of Private Equity International’s 300 largest private equity firms worldwide. Bernhard Capital seeks to create sustainable value by leveraging its experience in acquiring, operating, and growing services and infrastructure businesses.