Ridgewood Infrastructure Portfolio Company Sierra Railroad Company Acquires Central Valley Ag Transport

Ridgewood Infrastructure Acquires Controlling Interest in Sierra Railroad Company

March 11, 2026

Transportation

Ridgewood Infrastructure acquired a controlling interest in California-based shortline rail platform Sierra Railroad Company. Simultaneously, Sierra acquired Central Valley Ag Transport (CVAT) to vertically integrate agricultural transload capabilities, and the transaction includes Sierra’s hydrogen locomotive subsidiary Railpower, Inc.

Ridgewood Infrastructure Acquires Valley Cold Storage & Transportation

December 6, 2024

Logistics & Distribution

Ridgewood Infrastructure has acquired Valley Cold Storage & Transportation, a New Mexico–based provider of temperature-controlled storage and logistics services, to support the company’s continued expansion into existing and new markets. Citizens served as exclusive financial advisor to Ridgewood and Kirkland & Ellis represented Ridgewood on the transaction.

Transportation Infrastructure Partners (Ridgewood Infrastructure & Savage) Acquires The Dupuy Group

May 1, 2023

Logistics & Distribution

Transportation Infrastructure Partners, a joint venture between Ridgewood Infrastructure and Savage, has acquired The Dupuy Group, a near‑port logistics and intermodal infrastructure provider serving major U.S. ports. The acquisition expands the JV's U.S. port and terminal footprint (complementing prior purchases of Carolina Marine Terminal and Nassau Terminals), and is intended to enhance service capabilities and realize synergies across the partners' port and terminal network.

VDA (Keystone Portfolio) Acquires Sierra Consulting Group

April 30, 2022

Engineering Services

Keystone Capital Management’s portfolio company VDA, Inc. acquired Sierra Consulting Group in an add-on deal completed in November 2021 and announced in April 2022. The acquisition expands VDA’s mandated inspection and modernization consulting capabilities in the vertical transportation (elevator/escalator) market and brings Sierra founder Joseph Caracappa and his team into VDA’s leadership.

Voyager Trucking Corporation Acquires Vision Transport

December 15, 2025

Trucking & Fleet

Voyager Trucking Corporation has acquired Vision Transport, a Fairview-based regional hauler that serves municipal solid waste customers across New Jersey, New York and Pennsylvania. The combination creates a larger Mid‑Atlantic waste transportation platform, expands Voyager's fleet and capabilities, and will keep the Vision brand and employees in place with Tim Markoglu continuing in a senior executive role.

Auxo Investment Partners Acquires Ferrovia Services; Graycliff Provides Credit Support

January 18, 2022

Transportation

Auxo Investment Partners acquired Ferrovia Services and merged it with its existing platform Genesis Rail Services to form "Auxo Rail." Graycliff Partners provided subordinated debt and a minority equity investment to support the transaction, which aims to integrate vegetation-management and rail maintenance services to enable cross-selling to Class I, Class II and industrial railroad customers as well as state DOTs and utilities.