American Track Acquires The Railroad Associates Corp (TRAC)

North American Rail Solutions (American Track) Acquires Queen City Railroad Construction

May 13, 2026

Transportation

North American Rail Solutions, through its subsidiary American Track, acquired Queen City Railroad Construction (QCRC). QCRC, based in Knoxville, Tennessee, provides rail maintenance and construction services and will be integrated into American Track’s rail construction group to expand capabilities and geographic reach.

North American Rail Solutions / American Track Acquires Rapid Track

June 26, 2025

Transportation

North American Rail Solutions, through its subsidiary American Track, has acquired Rapid Track, a Tyrone, Georgia-based rail maintenance and construction services provider. The deal expands American Track's footprint in the Southeast U.S.; Rapid Track's owners Shannon and Brandi Shockley will transition following the sale.

North American Rail Solutions (American Track) Completes Multiple Add-on Acquisitions Including West Rail Construction, Strategic Rail, Tri Innovations and Condor Signals

March 4, 2024

Transportation

DFW Capital Partners-backed North American Rail Solutions (NARS), through its subsidiaries American Track and Universal Rail Systems, completed a series of add-on acquisitions to expand geographic coverage and service capabilities across the U.S. and Canada. Targets include West Rail Construction (Vancouver, WA), Strategic Rail (Tomahawk, WI), Tri Innovations Consulting Ltd. (Calgary, AB) and Condor Signals & Communications (Ontario) to broaden NARS' rail maintenance, construction, engineering and signals/communications offering.

American Track Services Acquires Universal Rail Systems; Forms North American Rail Solutions

April 17, 2023

Transportation

American Track Services (a portfolio company of DFW Capital Partners) has acquired Universal Rail Systems, Canada’s largest provider of rail infrastructure inspection, maintenance, repair and construction. The deal creates a new parent, North American Rail Solutions, combining ATS' U.S. footprint with URS' Canadian operations to create a continent-wide rail services platform; URS was sold by an investor group led by TorQuest Partners.

DFW Capital Partners Recapitalizes American Track

November 30, 2021

Industrial Services

DFW Capital Partners led a recapitalization of American Track, a Fort Worth-based provider of railroad inspection, maintenance, repair and construction services. The transaction represents an ownership transition from Hilltop Private Capital (and its capital partners) and is intended to support American Track's next stage of geographic and service expansion, including organic growth and add-on acquisitions.

American Track Acquires Dirtworks Rail of the Carolinas (HGNS Inc)

February 8, 2021

Transportation

Fort Worth-based American Track, a portfolio company of Hilltop Private Capital, has acquired Dirtworks Rail of the Carolinas (HGNS Inc), a Lexington, North Carolina-based rail construction and maintenance contractor. The asset purchase expands American Track's footprint and capabilities in the Southeastern United States as part of its ongoing build-out through add-on acquisitions.