Milbank LLP advised Cathcart Rail, LLC in its acquisition of the railcar repair business of The Andersons, Inc. (Nasdaq: ANDE). The acquisition is expected to close in Summer 2022 subject to the satisfaction of customary conditions precedent. Cathcart Rail will incorporate The Andersons railcar repair business into its existing platform that operates and services freight rail businesses across North America.
Cathcart Rail currently operates more than 60 locations in 23 states across the United States and is focused on the acquisition, operation and growth of rail services and transportation enterprises. Cathcart Rail and its affiliates are a joint venture between Cathcart, Inc. and funds managed by Star America Infrastructure Partners, LLC. The Andersons, Inc. is a publicly traded Fortune 500 agribusiness company established in 1947, with operations in agricultural commodities logistics and merchandising, renewables, and plant nutrients.
“We are excited to be representing Cathcart Rail on this acquisition and on other transactions. It is a privilege to work closely with them and their key equity partner, Star America Infrastructure Partners, to build the leading railcar services company in the country with a rapidly growing national footprint offering a broad array of freight rail services,” said Milbank partner Allan Marks.
The Milbank deal team is led by Global Project, Energy and Infrastructure Finance partner Allan Marks, together with Global Corporate partner John Franchini and Global Corporate associates Benjamin Fidler, Kristen Lin, Christina Sonageri and Sylvia Rosner and Global Project, Energy and Infrastructure Finance associates Sean O’Neill and Severine Losembe. The team also includes Global Corporate Special Counsel John Garces, Tax partner Max Goodman and associate Michael Rivkin, Executive Compensation partner Joel Krasnow and associate James Beebe and Environmental partner Matt Ahrens and associate Allison Sloto.
