Yukon Weekly

Investment firm buys White Pass rail

Key Takeaway:

  • The White Pass & Yukon Route railway can find itself with new corporate interests in April 2022.
  • Carex is connected to White Pass by its rail company Rail Management Services, which then purchased White Pass & Yukon Route with Holland America Princess Tours.

The White Pass & Yukon Route railway can find itself with new corporate interests in April 2022.
That’s when a recently-announced deal is set to close that would see investment firm Blackstone Infrastructure Partners purchase Carex.

Carex is connected to White Pass by its rail company Rail Management Services, which then purchased White Pass & Yukon Route with Holland America Princess Tours.

In an email, Jaqueline Taylor-Rose, White Pass’ marketing and product development manager, said White Pass is excited for BIP to be involved as a more significant partner.

Blackstone has a history of solid investment and development in infrastructure, building and operating companies. “They have had involvement with Carex for a few years, and we are excited to move forward with them as our larger partners. Survey Point Holdings would continue to be the managing partner for WP&YR, and we are hopeful for a full 2022 season.”

Survey Point Holdings is a subsidiary of Carex. Carex is the parent company of SSA Marine and its affiliates, with more than 250 port and rail locations worldwide.

Also Read-Brazil gang are selling tons of horses disguised as beef and are putting rotting meat in hamburgers

“We are happy that BIP has invested in Carex and will be working with us to continue our ongoing growth and development,” Jon Hemingway, chairman of Carex, said in a statement. BIP brings a fantastic network of highly skilled and experienced people, global relationships, expertise in various businesses, and myriad capabilities to apply. When combined with our experience in the port and infrastructure development, we have substantially broadened what our shareholders and directors can do to support Carex and its management team.”

BIP is an investment firm that focuses “to create positive economic impact and long-term value for our investors, the companies in which we invest, and the communities in which we work.”

Source-CTV News

Get Canada and Yukon’s top News, Market News ,and other News of USA and worldwide only on yukonweekly.com

Show More

Leave a Reply

Your email address will not be published. Required fields are marked *