In conjunction with its formation, PTL has acquired select assets from Arrow Material Services, LLC, a provider of transloading and related services. Transloading allows customers without direct rail access to profit from the logistical and environmental benefits of the North American railroad network.
PTL will operate from a headquarters in the Pittsburgh-area, with 23 terminals and facilities in 15 states. PTL’s terminals will provide a full suite of logistics solutions to transportation companies, including materials handling, logistics services, transloading, secure bulk commodity storage, and facility construction.
While PTL will operate independently, it will leverage the relationships of both Anacostia and Brown Brothers Harriman to grow its presence and services. PTL has appointed Ray Nixon as its CEO. Nixon brings more than 20 years of transloading experience to the new company.
“The PTL team is delighted to partner with [Anacostia] and [Brown Brothers Harriman] and we believe that this new company has an exciting opportunity in front of it,” says Nixon. “ARH and BBHCP were instrumental in forming an acquisition strategy to purchase these assets and our collective experience will enable PTL to be particularly effective at providing creative solutions to transportation companies and end-user facilities.”
Brown Brothers’ investment was made through the BBH Capital Partners Opportunities Fund, L.P. (CP Opportunities Fund), which closed in 2018 with committed capital of $250 million.
“The formation of PTL represents an opportunity for us to acquire a series of established assets with a partner that brings strategic and operational capabilities through its deep market knowledge and relationships throughout the rail and transload industries,” says Donald Hardie, BBH Managing Director and Co-Manager of CP Opportunities Fund.
Jeffrey Price, BBH Senior Vice-President and CP Opportunities Fund Co-Manager added, “BBH and ARH are two firms with longstanding ties to the railroad industry. This invaluable network of relationships and institutional knowledge will be instrumental in PTL’s future growth.”
“This is a unique opportunity to bring together quality operating experience with Anacostia/Brown Brothers Harriman strategic insight and market knowledge,” says Peter Gilbertson, Anacostia CEO. “We’re excited to collaborate with BBH on PTL and we believe this will be a successful strategic and financial relationship.”
— An Anacostia Rail Holdings news release. Sept. 23, 2019.
