DFW Capital Partners led the recapitalization of American Track, which provides inspection, maintenance, repair and construction services for railroad infrastructure. Hilltop Private Capital invested in American Track in 2016, forming the company through the consolidation of two family businesses.
American Track, the Nation’s leading provider of inspection, maintenance, repair and specialized construction services for industrial railroad infrastructure, announced the closing on a recapitalization transaction led by DFW Capital Partners.
Operating from nine branch offices in strategically located markets, the Company provides mission critical services for its customers that ensure the safety, compliance, operability and flexibility of onsite railway assets. American Track serves a wide range of industries including manufacturing, petrochemical, mining, agricultural products, food and beverage, basic raw materials, ports and transload facilities across the US.
American Track has been partnered with Hilltop Private Capital since its formation through a consolidation of two family businesses in 2016. During this time, American Track has seen great success and has grown from three locations to nine, with multiple acquisitions included. Kate Lehman, Managing Partner for Hilltop Private Capital, stated “we are proud to have partnered with management and the company founders to create the American Track platform and to provide the resources to execute our growth strategy. We thank our capital partners PNC Mezzanine Capital and Deerpath Capital Management for their support and wish the entire American Track team continued success as it moves forward.”
Thomas Lucario, Chief Executive Officer of American Track commented: “Hilltop and PNC Mezzanine Capital have been excellent partners for American Track over the past five years and have led us to achieve exceptional growth. With that in mind, we are extremely excited about partnering with DFW Capital Partners as we move into our next stage of expansion into additional services and geographies. We are certain DFW will provide us with not only additional resources, but also the right leadership, perspective, and commitment to invest in our people, equipment and customers in the future.”
Keith Pennell, Managing Partner for DFW, added “American Track represents a unique opportunity to back a very talented operating team and a market leading operating business in what remains a highly fragmented, specialized industry. We are excited to contribute some of our prior experiences in successfully scaling field service-oriented businesses to American Track, as well as supporting a more robust organic and add-on growth strategy.”
About American Track
Headquartered in Fort Worth, Texas, American Track provides railroad inspection engineering, repair and maintenance, construction services for critical rail infrastructure at industrial, municipal, and logistics sites from various locations across the US. www.AmericanTrack.com
About Hilltop Private Capital
Hilltop is a private equity firm focused on providing flexible capital and operating resources to lower middle market companies at a growth or ownership inflection point. The firm is operated by experienced investors with a successful track record of supporting management teams to reach their strategic, operational and financial goals. www.HilltopPrivateCapital.com
About PNC Mezzanine Capital
PNC Mezzanine Capital is a flexible junior capital provider with expertise supporting buyouts, recapitalizations and consolidation strategies. PNC MC invests in companies operating in a wide range of industries, but has particular interest in Manufacturing, Value-Added Distribution, Business Services, and Consumer Services. Since 1989, PNC Mezzanine Capital has been a stable, thoughtful junior capital partner for private equity firms, independent sponsors, entrepreneurs, and management teams. PNC MC’s approach is to underwrite the long-term business strategy of their portfolio companies, allowing them to respond constructively to the opportunities and challenges of the changing business environment. As a result, PNC Mezzanine Capital has made 190 investments in 98 portfolio companies in support of 367 transactions. Investments are a combination of subordinated debt and equity between $10 million and $50 million in companies with strong management, proven business models, stable cash flows, and a clear plan for growth. www.pnc.com/mezzanine
About DFW Capital Partners
DFW Capital Partners is a private equity investment firm focused on lower middle-market companies. The firm concentrates on service companies catering to complex and regulated end markets, with an emphasis on healthcare and outsourced business and industrial support services. DFW has established a 20+ year track record of success in both building leading companies and recognizing attractive returns for its investors. DFW is headquartered in Teaneck, New Jersey and maintains an office in Chevy Chase, Maryland. https://dfwcapital.com