(RTTNews) - EQT Corp. (EQT), an energy company, announced on Tuesday that the EQT Infrastructure VI fund has inked a deal to buy Eagle Railcar Services from JM Texas Companies.
The financial terms of the transaction, expected to be closed in the second quarter, are not known.
"EQT will partner with Eagle's management team to position the company for long-term success, leveraging its deep expertise in investing behind North American transportation and logistics assets to help unlock value creation across operational excellence, automation and digitization, and geographic growth," EQT said.
Founded in 2001 by Marc and Joe Walraven, Eagle has grown from one location to 13 full-service repair and maintenance facilities located across the U.S.
Headquartered in Eastland, Texas, the company now operates as a mission-critical, fully-integrated rail services facility network providing inspection, repair, and maintenance services to railcars.
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