American Track, the Fort Worth-based provider of inspection, maintenance, repair and specialized construction services for industrial railroad infrastructure, announced the closing on a recapitalization transaction led by DFW Capital Partners.
Operating from nine branch offices in strategically located markets, the American Track provides mission-critical services for its customers that ensure the safety, compliance, operability and flexibility of onsite railway assets. American Track serves a wide range of industries including manufacturing, petrochemical, mining, agricultural products, food and beverage, basic raw materials, ports and transload facilities across the US.
American Track has been partnered with Hilltop Private Capital since its formation through a consolidation of two family businesses in 2016. During this time, American Track has seen great success and has grown from three locations to nine, with multiple acquisitions included.
Kate Lehman, Managing Partner for Hilltop Private Capital, stated, “We are proud to have partnered with management and the company founders to create the American Track platform and to provide the resources to execute our growth strategy. We thank our capital partners PNC Mezzanine Capital and Deerpath Capital Management for their support and wish the entire American Track team continued success as it moves forward.”
Thomas Lucario, Chief Executive Officer of American Track, commented: “Hilltop and PNC Mezzanine Capital have been excellent partners for American Track over the past five years and have led us to achieve exceptional growth. With that in mind, we are extremely excited about partnering with DFW Capital Partners as we move into our next stage of expansion into additional services and geographies. We are certain DFW will provide us with not only additional resources, but also the right leadership, perspective, and commitment to invest in our people, equipment and customers in the future.”
Keith Pennell, Managing Partner for DFW Capital Partners, added, “American Track represents a unique opportunity to back a very talented operating team and a market leading operating business in what remains a highly fragmented, specialized industry. We are excited to contribute some of our prior experiences in successfully scaling field service-oriented businesses to American Track, as well as supporting a more robust organic and add-on growth strategy.”