Shares of RailAmerica began trading Tuesday on the
Fortress Investment Group LLC announced
Fortress funds acquired the railroad holding company in
In connection with the offering,
RailAmerica generated total operating revenue last year of $508.5 million and net income of $16.5 million. It had total operating revenue of $206.5 million and net income of $19.2 million for the six months ended June 30, 2009, according to an SEC filing.
RailAmerica operates a portfolio of 40 short line railroads with approximately 7,500 miles of track in 27 U.S. states and three Canadian provinces. Its railroads hauled more than one million carloads of freight for approximately 1,800 customers last year.
It owns about 4,500 track-miles and leases approximately 3,000 track-miles. RailAmerica also owns 240 locomotives and 524 railcars and leases an additional 206 locomotives and 7,195 railcars.