N.Y., Sept. 18, 2023 /PRNewswire/ -- Rail Modal
Group ("RMG"), the leading provider of intermodal rail solutions,
today announced the successful capital raise of $50 million from The Baupost Group
With strategically located premier intermodal rail ramps and
container depots in Amarillo,
Texas; Fremont, Nebraska;
Minot, North Dakota; and
Kansas City, Kansas, RMG offers
unparalleled efficiency for American producers in the heartland to
reach international markets. This capital injection supports RMG's
commitment to providing affordable, dependable, sustainable, and
faster trade solutions.
Greg Oberting, Founder and CEO of
RMG, expressed his excitement on this milestone achievement. "It
was a lot of work to launch this company and build out our
infrastructure over the past few years. Today, RMG stands as a
beacon of efficiency, helping our partners streamline their reach
to global markets at lower costs with a more environmentally
friendly footprint," said Oberting.
He further added, "We sought out Baupost exclusively as our
financial partner given their investment track record and their
ability to foster successful partnerships. Having them back
us confirms the value that our platform brings to our customers and
the growth that lies ahead. This investment strengthens our
ability to grow our high-quality service to American producers,
international consumers, and our rail and steamship partners."
Sidley Austin LLP acted as legal counsel to RMG for this
transaction, while Ropes & Gray LLP represented Baupost.
About Rail Modal Group (RMG):
Rail Modal Group is at the forefront of intermodal rail solutions,
optimizing the US supply chain through its footprint of inland
ports. Rail Modal Group facilitates efficient and sustainable
access to international markets for American producers, primarily
serving disadvantaged and dislocated supply chain areas. Rail Modal
Group has already reduced over 75 million truck miles from US roads
and highways through their intermodal terminals.
Rail Modal Group Email: firstname.lastname@example.org
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SOURCE Rail Modal Group LLC