One Equity Partners has invested in Metro East Industries, a national provider of railcar and locomotive maintenance and repair services.
Financial terms of the private transaction were not disclosed.
Founded in 1990 by the Ortyl family and headquartered in Alorton, Illinois, Metro East Industries operates a main service campus near major U.S. rail activity, along with six mobile service locations that provide nationwide coverage.
The company serves Class 1 railroads, short-line railroads, rail leasing companies, OEMs, industrial customers and other rolling-stock and locomotive operators.
Metro East initially focused on railcar repair and expanded into locomotive repair in 1995, providing both shop-based and field services.
The company now employs approximately 490 people.
OEP plans to support continued investment in Metro East’s existing operations while broadening its capabilities and service offerings.
KEY QUOTES:
“Rail is a vital pillar of the North American economy, and rail services is a market in which OEP has prior experience. We are thrilled to be partnering with the Ortyl family and to be supporting the Company’s next phase of growth while maintaining its heritage of excellence for customers and employees.”
J.B. Cherry, Partner at One Equity Partners
“MEI is a differentiated leader in rail car and locomotive services, and we look forward to partnering with the team through continued investment into base operations and investments to broaden its capabilities and service offerings.”
Haley Citrome, Vice President at One Equity Partners
“Our family is proud of the business we and the MEI team have built over the years, and we are excited to pursue the next chapter of MEI’s legacy alongside the One Equity team.”
Gayle Ortyl, President and Co-Founder of Metro East Industries
“MEI has a successful track record of innovation, leadership, and growth driven by our dedicated employees. We look forward to working closely with our new partners to continue this trajectory.”
Cindy Tampow, Vice President of Administration at Metro East Industries
“MEI has a tradition of unmatched work ethic and commitment to quality. Given OEP’s experience investing in and growing specialty industrial services businesses, we believe we have found the right partner to support MEI’s continued growth while remaining focused on delivering exceptional service to our customers.”
Rick Ortyl, CEO of Metro East Industries
