“We are very pleased not only to be part of an industry with enormous growth potential, but to partner with a company that is the clear segment leader,” said Mike de Windt, senior managing director and CEO for Gates Group. “Remprex’s success over its relatively short existence is a product of an extraordinarily talented management team coupled with revolutionary products and services. We are excited to partner with the management team to build upon their success going forward.”
Remprex provides managed technology, terminal operations, engineering and security services for intermodal transportation facilities. This includes the development of new terminals, facility retrofits and project management for railways throughout North America. Remprex was founded in 2006 and serves many of the largest railways in North America. The company is based in Chicago (www.remprex.com).
With the closing of the transaction, James Shondel, the Remprex’s co-founder, has been elected chairman of the board and Emory Plitt III, the company’s current COO, has been elected president and CEO. “We’re excited about having found a partner that brings the right amount of financial, operational and transportation experience to the table, said James Shondel. Together with Gates Group, Remprex will be better positioned to support our clients’ dynamic needs.
Gates Group Capital Partners invests in lower middle market operating businesses throughout North America that provide basic services within segments of the transportation industry. Typical targets will have EBITDAs from $3 million to $10 million. The firm was founded in 2002 and is based in Cleveland (www.gatesgroupcp.com).
“Gates Group will support Remprex in its continuing effort to be the premier service provider to the intermodal industry,” said Mr. de Windt. “Now more than ever, the Class 1 rails need the safest and most efficient terminal operations available in order to meet the increasing demand for intermodal services.”
2014 PEPD • Private Equity’s Leading News Magazine • 12-15-14