Paceline Equity Partners Acquires Progress Rail Equipment Leasing Corporation from Progress Rail (Caterpillar)
January 2, 2020
Affiliates of Paceline Equity Partners acquired Progress Rail Equipment Leasing Corporation (PRELC), the maintenance-of-way (MOW) equipment leasing business formerly held by Progress Rail, a subsidiary of Caterpillar Inc. The transaction was a divestiture by Progress Rail and will allow Paceline to operate an asset-rich equipment-leasing platform serving North American railroad operators and contractors.
- Buyers
- Paceline Equity Partners
- Targets
- Progress Rail Equipment Leasing Corporation (PRELC)
- Sellers
- Progress Rail, Caterpillar Inc.
- Industry
- Transportation
- Location
- Michigan, United States
- Transaction Type
- Divestiture
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