Editor’s Note: Yesterday’s report from the Jacksonville Business Journal brought the news a major piece of CSX trackage in Florida was being sold to the Florida Gulf & Atlantic Railroad, a new name to most in the railroad industry. The track being sold is the Florida panhandle line, originally owned by the Seaboard Air Line Railroad and Louisville & Nashville Railroad, running from just west of Jacksonville to Pensacola, a distance of over 300 miles. This is the route of the suspended Amtrak Sunset Limited. The story below reveals the controlling company which formed the Florida Gulf & Atlantic Railroad. – Corridorrail.com Editor
From Progressive Railroading Magazine; October 26, 2018
An investor group headed by private investment firm Equity Group Investments (EGI) that includes International Rail Partners LLC (IRP) recently pooled more than $200 million to help IRP form RailUSA LLC.
The new subsidiary already is helping IRP acquire regionals and short lines. In August, RailUSA completed its first acquisition: Grenada Railroad LLC, which operates a 206-mile line between Memphis, Tennessee, and Canton, Missouri. In cooperation with the North Central Mississippi Regional Railroad Authority, RailUSA plans to restore and re-open the 87-mile southern portion of the Grenada line, which has been closed since 2011.
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