Auxo acquires Cariboo Rail in first deal in Canadian market

• Cariboo provides railroad infrastructure maintenance services throughout Western, Central and Northern Canada
• It represents Auxo’s first acquisition in the Canadian market
• Cariboo will be integrated into the Genesis Rail Services platform alongside previously acquired companies Genesis Rail Services and Ferrovia Vegetation Management

Auxo Investment Partners has acquired Cariboo Central Railroad Contracting, a Kelowna, British Columbia-based railroad infrastructure maintenance and construction services provider. No financial details of the transaction were disclosed.

Cariboo provides railroad infrastructure maintenance services throughout Western, Central and Northern Canada. Its offering includes a range of track services including new track construction, rail and tie changing, track inspection, rail, ballast and tie maintenance, snow removal and emergency response services (derailments, fires, mechanical issues).

Cariboo represents Auxo’s first acquisition in the Canadian market.

The business will be integrated into the Genesis Rail Services platform alongside previously acquired companies Genesis Rail Services and Ferrovia Vegetation Management. Cariboo expands the platform’s geographic reach into Canada and creates a further diversified railroad infrastructure and mechanical-construction services business.

Cariboo will continue to be managed locally by its current CEO Clint Stibbard and general manager Bryson Gibson.

“The addition of Cariboo expands our footprint into Canada and brings a veteran team of Canadian railroaders onto the Genesis team,” said Jeff Helminski, managing partner of Auxo Investment Partners, in a statement.

Based in Grand Rapids, Michigan, Auxo is a private investment firm. It focuses on making mostly control investments in North American mid-market companies in manufacturing, industrial, value-added distribution and business services sectors.