TorQuest-led investor group buys A&B Rail Services from Fulcrum Capital Partners
anadian private equity firm TorQuest Partners has led a group of co-investors in the acquisition of a majority stake in A&B Rail Services Ltd, an Edmonton-based railway services company focused on providing railway maintenance, new track construction, rehabilitation and emergency services. The seller in the non-disclosed deal was Fulcrum Capital Partners, which invested in A&B Rail in June 2008. Company president Paul Brum and other senior management members will continue to hold a significant equity interest in the business. TorQuest's investment in A&B Rail is the second deal done to date by TorQuest Fund III, which closed at $535 million in September. Last week, the fund led the recapitalization of Cambridge, Ontario-based Kissner Milling Co Ltd.
