Bernhard Capital Partners to Acquire RailWorks Corp. from Wind Point Partners

BATON ROUGE, La.--(BUSINESS WIRE)--Bernhard Capital Partners Management, LP (“Bernhard Capital”), a services and infrastructure-focused private equity management firm, today announced that it has reached an agreement to acquire RailWorks Corp. (“RailWorks” or the “Company”), North America’s leading rail infrastructure solutions provider, from Wind Point Partners, a Chicago-based private equity firm. The transaction is expected to close in the fourth quarter of 2021, subject to customary closing conditions, including receipt of regulatory approvals.

“RailWorks has enjoyed unprecedented growth over the last decade, and we are excited to see that continue with Bernhard Capital’s ownership and expertise,” said Kevin Riddett, RailWorks’ President and CEO. “For RailWorks’ customers, it is business as usual. Our crews will continue to deliver on the high safety and operational standards our customers have come to expect.”

Mark Spender, Managing Director at Bernhard Capital, said, “We are thrilled to add RailWorks to the Bernhard Capital portfolio, and I wish to extend a sincere welcome to the Company’s many talented and dedicated employees. We look forward to supporting the Company as it drives strong growth across its core service areas and continues to support the expanding rail infrastructure needs of North America. We have long recognized that rail would be an important component of our infrastructure services-focused investment strategy, and we are excited to have the opportunity to partner with the leading provider of maintenance and construction services in this space.”

Following the transaction, Kevin Riddett will continue to serve as RailWorks’ President and CEO, and the Company’s executive team will remain unchanged.

J.P. Morgan and Bank of Montreal will be serving as financing partners in this transaction. Kirkland & Ellis LLP served as legal counsel and Houlihan Lokey provided financial due diligence support to Bernhard Capital.

About Bernhard Capital Partners

Bernhard Capital Partners is a services and infrastructure-focused private equity management firm established in 2013. Bernhard Capital Partners has deployed capital in three funds across five strategies, has approximately $2.5 billion of gross assets under management, and is ranked as one of Private Equity International’s 300 largest private equity firms worldwide. Bernhard Capital seeks to create sustainable value by leveraging its experience in acquiring, operating, and growing services and infrastructure businesses.

About RailWorks Corporation

Founded in 1998, RailWorks Corporation provides track construction, electrical systems construction, maintenance services and products throughout the United States and Canada for major transit authorities, Class I and short-line railroads, and rail-served commercial and industrial companies. Trusted RailWorks brands include L.K. Comstock Inc., PNR RailWorks, NARSTCO, and HSQ Technology. For more information, visit www.railworks.com.