Fortress completes RailAmerica acquisition
Fortress Investment Group LLC has completed the $1.1 billion takeover of RailAmerica Inc., the short line and regional rail service provider with 42 railroads operating about 7,800 miles in the United States and Canada.
'We are pleased to complete this transaction,' said Charles Swinburn, chief executive officer of RailAmerica. 'We are excited to partner with Fortress to fully unleash the company's potential. This was clearly the right opportunity for RailAmerica to maximize shareholder value while preserving our heritage.'
Wesley R. Edens, Fortress' CEO, said: 'We are excited about moving forward in our partnership with RailAmerica and working closely with the RailAmerica team to continue to grow the company.'
