RMI, an Atlanta-based provider of rail information services to the transportation industry, has acquired 10East, a Jacksonville, Fla.-based provider of SaaS applications to support signal and communications infrastructure needs of railroads in North America. No financial terms were disclosed. RMI is a portfolio company of Carlyle Growth Partners.
RMI, the largest independent provider of comprehensive rail information services to the transportation industry, today announced it has acquired 10East, a Jacksonville, Florida-based provider of SaaS software applications that support the signal and communications infrastructure needs of railroads in North America. Financial terms of the transaction were not disclosed. 10East will operate as a wholly-owned subsidiary of RMI and will remain in Jacksonville.
Since 2002, 10East has been the leading provider of SaaS software applications that enable railroads to manage all aspects of the design, build, operate and maintain processes of a railroad’s signal and communications infrastructure. 10East’s RailDOCS® suite of applications provides railroads with the tools to manage the preventative maintenance, test and inspection, and configuration management for their signals. Additionally, 10East’s systems ensure compliance with industry, company and federal standards for signal maintenance.
Founded in 1979, RMI provides critical web-based transportation and logistics solutions for a variety of participants in the transportation industry, including short-line, regional, Class I and terminal switching railroads, railcar leasing companies, rail shippers and barge operators. RMI’s mission-critical, integrated services assist customers with many aspects of managing their operations, including rail transportation, intermodal, equipment, freight and revenue management services.
RMI Chief Executive Officer J. Peter Kleifgen said, “We are excited about the addition of 10East and its suite of signal configuration, test and inspection, and plan management software and services. 10East’s products and customers will support our strategy of providing additional operating solutions to various segments in the railroad industry.”
The day-to-day software development and support operations of 10East will remain in Jacksonville, Florida. Lester Hightower, Chief Technology Officer for 10East, will remain with the company in his current role, and Mike Wilson, 10East’s CEO and President, will remain with the company and lead the Jacksonville operations. “All of us at 10East are looking forward to becoming part of the RMI team. We view this as an opportunity to accelerate our growth by entering new markets and continuing to develop new solutions,” said Mr. Wilson.
RMI is a portfolio company of Carlyle Growth Partners, the U.S. growth capital arm of The Carlyle Group. Carlyle Growth Partners makes growth equity and buyout investments primarily in the growth sectors of the economy, including technology, technology-enabled services, business services, telecommunications, media and healthcare.
RMI is the largest independent provider of accurate, reliable, comprehensive and secure rail information services to the transportation industry. Founded in 1979, RMI is recognized as the most successful Software as a Service (SaaS) provider in the industry with an in-depth knowledge of rail operations and a proven ability to translate complex business processes into valuable management information services. Currently, RMI processes approximately eight million carloads annually for railroads, rail shippers and railcar owners. RMI’s services are accessed via the Internet through RailConnect® (www.railconnect.com), a web-based portal to the company’s integrated suite of proprietary information services, which are used to manage rail operations, improve customer service and reduce costs. Services include transportation, revenue, equipment, shipper freight and fleet management services and related executive information systems. RMI is an independent, privately owned company based in Atlanta. For more information about RMI, visit www.railcarmgt.com.
10East is a leading provider of Software as a Service (SaaS) solutions to the North American Railroad industry. 10East provides management systems to that support the needs of the fixed operating infrastructure departments of North American railroads. The software and services of 10East enable railroads to improve safety and lower their costs of operation by helping them efficiently manage all aspects of the design, build, operate and maintain (DBOM) processes of a railroad’s signal and communication (S&C) infrastructure, with an emphasis on preventive maintenance, test and inspection, and configuration management. In addition, 10East’s systems ensure compliance with railroad company standards, as well as government mandates enforced by the Federal Railroad Administration (FRA) and Transport Canada. 10East has 37 employees and is based in Jacksonville, Florida.
About The Carlyle Group
The Carlyle Group is a global private equity firm with $85.5 billion of assets under management committed to 66 funds as of December 31, 2008. Carlyle invests in buyouts, growth capital, real estate and leveraged finance in Africa, Asia, Australia, Europe, North America and South America focusing on aerospace & defense, automotive & transportation, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, technology & business services and telecommunications & media. Since 1987, the firm has invested $54.6 billion of equity in 896 transactions for a total purchase price of approximately $226.6 billion. The Carlyle Group employs more than 890 people in 20 countries. In the aggregate, Carlyle portfolio companies have more than $109 billion in revenue and employ more than 415,000 people around the world. www.carlyle.com