Lowis & Gellen Client Acquires Two Railroads in Single Transaction

Lowis & Gellen represented the buyer in its acquisition of two short line railways, one located in Texas and one in Arizona, from one of the largest short line and regional rail service providers in the US. The two lines, representing over 230 miles of track, sold for a total of $8.05 million in cash and notes.

Simultaneously with the purchase of the railroads, the client refinanced both its existing senior and subordinated debt. The combined value of all these transactions (the refinancing and the acquisition of the railway lines) totaled $9.65 million.

The Lowis & Gellen team consisted of Gerald Haberkorn, Robert Leavitt and Jim Lechowicz, who exclusively handled all legal aspects of the transaction including the structuring, drafting and negotiating of the purchase and finance documentation.

For more information, please contact:

Jerry Haberkorn, (312) 456-2701

geraldh@lowis-gellen.com