Secovia Capital acquires Genesis Rail’s vegetation management business

Secovia Capital acquires Genesis Rail’s vegetation management business USA: Secovia Capital has acquired Genesis Rail’s vegetation inspection and management services business Ferrovia from Auxo Investment Partners. Genesis Rail provides outsourced infrastructure maintenance services to main line and industrial railway customers throughout the USA and Canada. It was acquired by Auxo in 2021, and Ferrovia was acquired shortly afterwards and incorporated into the group. On August 24 Genesis Rail Services CEO Rance Randle said the capital provided by the sale of the vegetation management division would allow the group to invest in equipment to expand existing service lines, support product development and continue its acquisition strategy. Auxo seeks to partner with North America-based companies in the manufacturing, industrial or business services industries with EBITDA of $2m to $20m and owner-operators seeking retirement, family succession planning or existing teams seeking to grow their businesses. Managing Partner Jeff Helminski said ‘we are proud of Ferrovia’s growth achieved during our ownership and this is an ideal outcome for everyone involved’. Secovia Capital says it partners with industrial service businesses to preserve ‘the values, culture and relationships that made them successful while providing the capital and strategic support to help them grow for generations to come’. Middle market investment bank Northborne Partners served as exclusive financial adviser to Genesis Rail Services and Ferrovia. Miller Johnson LLP and BDO USA LLP also served as advisers. Mercantile Bank of Michigan and Graycliff Partners provided financing to Auxo throughout its ownership of Ferrovia. Ben Marks, Managing Director at Northborne, said ‘Ferrovia sits at the intersection of several themes that continue to resonate with investors: essential services, recurring maintenance spending, technology-enabled service delivery and multiple avenues for organic and inorganic growth. As railroads continue to prioritise network reliability, safety and operational efficiency, we believe demand for specialised service providers like Ferrovia will remain strong.’ Subscribe to gain access to all news Already have a subscription? Log in. Choose your subscription Considering a corporate subscription? Contact us to find out more.