Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) and its partner, Alpenglow Rail LLC (Alpenglow), today announced the acquisition of Orange Rail Inc. (Orange Rail), a recently constructed rail terminal located in Orange, Texas. The transaction further expands CC&L Infrastructure and Alpenglow’s North American rail business, which now encompasses five rail assets in Canada and the United States.

Orange Rail provides critical first and last mile rail transportation and storage solutions to a diverse base of large-scale, blue-chip customers similar to those served by existing terminal locations. The recently built project benefits from proximity to highly-attractive industrial markets and class 1 railroad access to both the Union Pacific and BNSF railroads. The facilities include a double loop track capable of handling 120 car unit trains along with approximately 600 railcar storage spots.

“Our rail operations have demonstrated their criticality and resilience over the past two years and we are pleased to grow our portfolio with the addition of Orange Rail,” said Matt O’Brien, President of CC&L Infrastructure. “We would like to take the opportunity to acknowledge our partners at Alpenglow Rail. Together we have combined a long-term investment approach and best-in-class operating model to establish an attractive portfolio of rail assets that creates value for our stakeholders, including clients, customers and employees.”

This investment is part of the ongoing expansion of CC&L Infrastructure and Alpenglow’s established partnership, which was formed in 2019 to develop and operate a diversified portfolio of rail businesses across North America. Today, the portfolio includes three assets in the U.S. Gulf Coast under USA Rail Terminals as well VIP Rail, a business that comprises two railcar storage, transloading, railcar cleaning, and switching locations in Sarnia, Ontario. In addition, the partners continue to evaluate further investments together.

“We are excited to add Orange Rail to our USA Rail portfolio,” said CEO of Alpenglow, Rich Montgomery. “Orange Rail complements our other Gulf Coast terminals, providing operational synergies and a number of avenues for potential growth, including space for the build out of additional storage capacity and the ability to added further service offerings to better serve current and prospective customers.” 

About Connor, Clark & Lunn Infrastructure

CC&L Infrastructure invests in middle-market infrastructure assets with highly attractive risk-return characteristics, long lives and the potential to generate stable cash flows. The firm has been an active investor and owner of renewable energy assets for more than 15 years. Its portfolio includes more than 60 hydro, solar, and wind facilities totaling 1.4 GW of clean energy generating capacity globally. CC&L Infrastructure is a part of Connor, Clark & Lunn Financial Group Ltd., a multi-boutique asset management firm whose affiliates collectively manage over CAD$100 billion in assets. For more information, please visit www.cclinfrastructure.com.

About Alpenglow Rail

Alpenglow Rail develops and manages freight rail businesses and related transportation assets across North America. Alpenglow Rail currently owns and operates five rail terminals strategically located in leading industrial markets within Canada and the U.S. Gulf Coast. Alpenglow Rail was founded by seasoned railroad executives Rich Montgomery, Darcy Brede, Henning von Kalm, and Josh Huster. For more information, please visit www.alpenglowrail.com.

Contact:

Kaitlin Blainey
Director
Connor, Clark & Lunn Infrastructure
(416) 216-8047
[email protected]

Banyan Capital Partners (“Banyan”), a leading Canadian middle market private equity firm, is pleased to announce its investment in Innovative Surface Solutions LP (“Innovative” or the “Company”), a leading distributor of liquid surface solutions in North America. Innovative marks the inaugural investment through Banyan Committed Capital LP, an evergreen investment vehicle that has recently closed its first $216 million tranche of commitments. 

Founded in 1986, Innovative Surface Solutions distributes liquid surface solutions to large treated salt partners, commercial customers, water treatment clients and government agencies across North America. Headquartered in Ajax, Ontario with its U.S. headquarters in Glenmont, New York, Innovative operates seven terminals with the capacity to store over 200 thousand metric tons of liquid product and process over 300 thousand metric tons annually, comprising the largest liquid distribution network in Eastern Canada and the Northeast U.S.

Banyan is partnering with the Company’s CEO and existing majority owner, Greg Baun, who has served in this role since 1994, to help facilitate Innovative’s next phase of growth. Greg will remain in the role of CEO post-close and retain a significant ownership stake in the Company.

“I am excited to be partnering with Banyan Capital Partners. Their long-term investment philosophy aligns with the objectives of my team to continue to grow our business throughout North America,” said Greg Baun, CEO of Innovative Surface Solutions.

“Innovative is uniquely positioned on the east coast of Canada and the U.S. to provide essential road safety and industrial solutions to its customers for years to come. Banyan is looking forward to working with Greg and his team as we embark together on this next chapter of growth,” said Matthew Segal, Managing Director and Partner at Banyan Capital Partners.

About Innovative Surface Solutions

Founded in 1986, Innovative distributes liquid salts, primarily magnesium chloride and calcium chloride mixed with additives for de-icing, dust control and various industrial applications. The Company services a diverse customer base including large treated salt partners, commercial customers, water treatment clients and government agencies including regional municipalities, townships and counties. Headquartered in Ajax, Ontario with its U.S. headquarters in Glenmont, New York, the Company operates seven terminal facilities with the capacity to store over 200 thousand metric tons and processes over 300 thousand metric tons annually.

About Banyan Capital Partners

Founded in 1998 and under current management since 2008, Banyan Capital Partners is a Canadian based private equity firm that makes equity investments in middle market private and public companies throughout North America. Through a long-term investment approach, Banyan has developed into one of Canada’s leading middle market private equity firms with an established track record of success in providing full or partial liquidity to founders, families and entrepreneurs and helping them take their business to the next level. Banyan is part of Connor, Clark & Lunn Financial Group Ltd., an independently owned multi-boutique asset management firm whose affiliates are collectively responsible for over $100 billion in assets under management on behalf of institutional, private and retail clients.

Contact:

Jeff Wigle
Managing Director
Banyan Capital Partners
(416) 564-0737
[email protected]