TexAmericas Center (TAC) today announced it has acquired all contracts and assets from Lone Star Railcar Storage Company, which increases the size of TexAmericas Center’s existing rail yard and allows it to work more directly with tenants and more efficiently on third-party logistics.
The acquisition is being celebrated by both companies as it brings opportunity for growth and economic development to the Texarkana region. The purchase helps set TexAmericas Center apart from other industrial parks because it now has the unique capability to own and manage tracks while being able to communicate, support, and advance the goals of tenants.
“This moves TexAmericas Center forward and it’s in large part thanks to the legacy, work, and resources left by Lone Star Railcar Storage Company,” said Scott Norton, Executive Director and CEO of TexAmericas Center. “This acquisition is good for our current tenants, good for attracting new tenants – and more jobs – and aligns with our goals for the region overall.”
TexAmericas Center has owned the tracks since 2010 but has leased them to Lone Star Railcar Storage since that date. TexAmericas Center will now manage full operations of the rail system, allowing the organization to make improvements to the rail and classification yard while having greater control of moving products for current and future tenants. Additionally, the acquisition allows for more streamlined business operations and enhanced efficiency for tenants.
Along with purchasing contracts and assets, three employees will join the TexAmericas Center team. Jeff Lindsey, the President of Lone Star Railcar Storage Company, will also work with TexAmericas Center for the next 3 to 6 months as a consultant to ensure a smooth transition of the current operations.
“I spent 30 years developing my customer base, many are now my personal friends. As well, I built a great team to help me be successful with my business here in Texarkana. To be successful in the railroad services business you have got to be success-minded.
That is how I have come to understand the team at TexAmericas Center to be,” Lindsey said. “They are focused on providing excellent customer service, treating their employees well and most importantly they are in the game to be successful in the long-term. I would not trust my business relationships and employees to any group that doesn’t have that type of a commitment.”
The acquisition was finalized at the end of October and TexAmericas Center started operations on November 1st.
“The transition was seamless and a true testament to the relationship TexAmericas Center and Lone Star Railcar Storage Company has built over the years,” said Darrell Thompson, General Manager of Rail Operations at TexAmericas Center.
With the acquisition, TexAmericas Center plans to align its rail services and third-party logistics to attract businesses and meet a need in the Texarkana region not only for current tenants, but also future ones.
“TexAmericas Center is putting itself in a strategic advantage by becoming the point of contact for transportation and moving product,” said Eric Voyles, Executive Vice President and Chief Economic Development Officer. “The services and efficiency the company can now provide takes one more thing off the shoulders of hard-working people so they can focus solely on the success of their companies. The move isn’t just good for TexAmericas Center, it’s good for the companies – and the people – who choose to work in the Texarkana region.”