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Fort Worth-based North American Rail Solutions announced last week the acquisition of Tri Innovations Consulting Ltd. in Calgary, Alberta.
Tri Innovations is a full-discipline engineering company focused on energy, transportation, agriculture, and renewable spaces with comprehensive expertise in facilities and terminals, industrial transportation, and materials handling.
"The addition of Tri Innovations to the North American Rail Solutions family of companies adds incredible capabilities to our portfolio,” said Thomas Lucario, CEO of North American Rail Solutions," in a statement. “This positions North American Rail Solutions as one of the only major rail maintenance and construction providers in North America to offer a full suite of truly in-house services, from design-build to maintenance and operations.
“The Tri Innovations team is a perfect fit for our culture of providing innovative solutions to customer problems and will integrate well with our other operations across the United States and Canada."
In 2021, DFW Capital Partners partnered with the management team of American Track through acquisition and established the parent company, North American Rail Solutions.
Operating from 25 full-service offices in the U.S. and Canada, North American Rail Solutions serves a wide range of industries, including manufacturing, petrochemical, mining, agricultural products, food and beverage, basic raw materials, ports, transload facilities, transit, Class 1 and short-line railroads.
DFW Capital Partners is a private equity investment firm focused on lower middle-market companies. With roughly $2 billion under management, the firm concentrates on service companies, with an emphasis on outsourced business and industrial support services, and healthcare companies. DFW is headquartered in New York and maintains an office in Chevy Chase, Maryland.
"Our shared commitment to customer-centric solutions and innovation will strengthen our ability to deliver unparalleled value to our clients,” said Kurt Findlay, CEO of Tri Innovations. “We are eager to collaborate with NARS to expand our reach and enhance the services we offer and deliver exceptional value."