OmniTRAX joint venture acquires California short line railroad
A joint venture led by shortline operator OmniTRAX has acquired the Santa Maria Valley Railroad in California’s Central Coast region. The post OmniTRAX joint venture acquires California short line railroad appeared first on FreightWaves.
OmniTRAX announced a joint venture partnership to acquire the Santa Maria Valley Railroad in California’s Central Coast region.
The deal is OmniTRAX’s 29th rail operation in its expanding national network, North America’s largest privately owned shortline holding company.
Terms were not disclosed.
The Santa Maria Valley Railroad is a historic 114-year-old line operating 15 miles of mainline track connecting local commercial and agricultural businesses to coastal ports and the broader North American rail freight network via the Union Pacific in Guadalupe.
This acquisition represents OmniTRAX’s first rail joint venture in a partnership with Coast Belle Rail Corp., which has operated the Santa Maria since 2006.
“The Santa Maria Valley Railroad plays a critical role in California’s supply chains and this acquisition is another key step in the expansion of the OmniTRAX Rail Network,” said Nathan Brown, executive vice president of OmniTRAX, in a release.
For businesses without direct rail access, the Santa Maria Valley Railroad offers transload facilities at the Osburn yard in Santa Maria.
Rob Himoto, president of the Santa Maria Valley Railroad, expressed enthusiasm for the partnership, highlighting the added resources, relationships and real estate development capacities that OmniTRAX brings to the table.
OmniTRAX, part of Denver-based investor Broe Group, has rail operations from California to Georgia.
“Our shared cultural values with The Broe Group’s multi-generational ownership are not only the basis of a strong partnership, they are a fitting tribute to the dedicated families that have built the Santa Maria Railroad’s wonderful legacy of service,” Himoto said in the release.
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