Albany, New York, September 18, 2023 /PRNewswire/ — Rail Modal Group (“RMG”), a leading provider of intermodal rail solutions, today announced a successful capital raise US$50 million From the Baupost Group (“Baupost”).
Well-located, state-of-the-art intermodal rail ramp and container yard Amarillo, Texas; Fremont, Nebraska; Minot (North Dakota); and Kansas City, Kansas, RMG provides heartland U.S. producers with unparalleled efficiencies in accessing international markets. This capital injection supports RMG’s commitment to providing affordable, reliable, sustainable and faster trade solutions.
Greg ObertRMG founder and CEO expressed excitement about this milestone achievement. “It took a lot of work to launch this company and build out our infrastructure over the past few years. Today, RMG has become a beacon of efficiency, helping our partners streamline their operations with lower costs and a greener footprint. business entering global markets,” Oberting said.
He further added: “We specifically selected Baupost as our financial partner given their track record of investment and ability to cultivate successful partnerships. Their support validates the value our platform brings to our customers and future growth.” This investment enhances our ability to provide high-quality service to U.S. producers, international consumers and our rail and ship partners.”
Sidley Austin LLP acted as legal advisor to RMG on the transaction, while Ropes & Gray LLP represented Baupost.
About Railway Modal Group (RMG):
Rail Modal Group is at the forefront of intermodal rail solutions, optimizing U.S. supply chains through its inland port footprint. Rail Modal Group facilitates efficient and sustainable access to international markets for U.S. producers, primarily serving disadvantaged and dislocated supply chain areas. Rail Modal Group has reduced more than 75 million truck miles traveled on U.S. roads and highways through its intermodal terminals.
Media contact:
Rail Modal Group Email: info@railmodal.com
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