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For Immediate Release
TRM Equity Acquires Assets of National Railway Equipment Co.
MountVernon, IL, May 3, 2023
TRM Equity II ("TRM") has acquired certain assets of National Railway Equipment Co. (“NRE”). Headquartered in Mount Vernon, IL, with facilities across five other continents, NRE is a premier provider of Locomotive, Marine, and Engine services, specializing in remanufacturing,rebuilds, repair, modernization, and maintenance. The transaction was completed on May 2, 2023. NRE employs over 300 people in its US facilities.
Jeff Stone, Managing Director for TRM, commented: "NRE has been a global leader in the Locomotive industry for decades. The capabilities and technical talent are broad and deep. During the last five years, NRE has experienced sudden changes in leadership due to unexpected events while trying to navigate a shifting market environment, record inflation, and a snarled global supply chain. This transaction clears the way financially for NRE to unlock its potential and execute on a large and growing backlog of orders."
About TRM Equity
TRM Equity is a private equity firm that seeks controlling investments in situations where the experience of our team canassist companies with operational improvement or transformation. The Firm's core team has worked and invested together for approximately 20 years, applying a consistent approach in targeted manufacturing industries, and has a demonstrated track record of above-market returns.
Jeffrey A. Stone