SteelRiver Infrastructure to sell Patriot Rail

First State Investments said Aug. 26 that it agreed to buy 100 percent of the equity of Patriot Rail and Ports. SteelRiver Infrastructure Partners was the seller. Patriot Rail, of Jacksonville, Florida, operates a portfolio of 12 short line freight railroads with more than 585 track miles across 14 states in the United States. The deal valued Patriot Rail at more than $750 million, Bloomberg reported.

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