Armory Securities, LLC Announces the Sale of National Railway Equipment Co.
May 10, 2023
Source: Armory Securities, LLC i
Armory Securities, LLC is pleased to announce the sale of National Railway Equipment Co. The transaction closed on May 2, 2023. Armory served as the exclusive financial advisor to the company for the transaction.
National Railway Equipment Co. (“NRE”) is a premier provider of specialized Locomotive and Marine engine remanufacturing services, including modernization, rebuilds, repairs, and maintenance. NRE has delivered over 1200 new and remanufactured locomotives to North American and International railroads. The Company is headquartered in Mount Vernon, IL, and has facilities across five other continents.
The assets of NRE were sold to TRM Equity, a prominent private equity firm that excels in effectively managing its control investments in middle-market industrial businesses, with a focus on operational improvements and transformations. With a core team that has worked and invested together for over 15 years, the company brings extensive expertise in specified manufacturing industries and has a proven track record of delivering above-market returns.
National Railway Equipment Co. (“NRE”) is a premier provider of specialized Locomotive and Marine engine remanufacturing services, including modernization, rebuilds, repairs, and maintenance. NRE has delivered over 1200 new and remanufactured locomotives to North American and International railroads. The Company is headquartered in Mount Vernon, IL, and has facilities across five other continents.
The assets of NRE were sold to TRM Equity, a prominent private equity firm that excels in effectively managing its control investments in middle-market industrial businesses, with a focus on operational improvements and transformations. With a core team that has worked and invested together for over 15 years, the company brings extensive expertise in specified manufacturing industries and has a proven track record of delivering above-market returns.
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