Antin Infrastructure Partners Invests in Lake State Railway Company
Posted on 03/09/2022
Antin Infrastructure Partners invested in Lake State Railway Company (LSRC), a Michigan-based regional freight railroad. LSRC, formed in 1992, is an approximately 375-mile rail freight network spanning the eastern corridor of Michigan’s Lower Peninsula. Lake State began operations in 1992 when the late Jim George acquired all the lines operated by the Detroit and Mackinac Railway. In 2005, LSRC acquired rail property from CSX in the Saginaw, Michigan area.
The company provides freight transportation, railcar storage, and transloading services. LSRC is a critical component of the North American transportation infrastructure supply chain. Through interconnections with multiple Class I rail partners, LSRC provides bidirectional rail access between Michigan and the broader U.S. and Canadian markets to a diverse set of over 60 customers across a range of durable end markets. In 2021, the company moved over 60,000 carloads. LSRC is a vital contributor to the State of Michigan, one of the fastest growing state economies in the U.S. and one of the largest manufacturing centers in North America. In addition, LSRC’s rail service provides an environmentally friendly shipping option for customers, as freight rail is significantly more fuel efficient than over-the-road alternatives.
Advisors
LSRC was advised by Northborne Partners (financial advisor) and Honigman LLP (legal counsel).
Antin was advised by BMO Capital Markets (financial advisor) and Gibson, Dunn & Crutcher LLP (legal counsel).
