Toronto Equity Firm Buys Nordco

Railroad supply company Nordco Inc. has been acquired by OMERS Private Equity of Toronto, a private equity investment firm. Nordco had been owned since 2003 by The Riverside Company. Terms were not disclosed. 

Nordco, based in Oak Creek, Wis., has a long history as a manufacturer of new and rebuilt railroad maintenance-of-way machinery. Its product line also includes in-house and on-site machinery inspection and repair; reconditioned machinery rental; rail car movers; ultrasonic testing equipment and services for railroads and other industries; and machine replacement parts. 

Nordco companies include Dapco Industries of Ridgefield, Conn.; Nordco Rail Services of Lee's Summit, Mo.; Shuttlewagon of Grandview, Mo.; and J.E.R. Overhaul of Arcola, Ill. The Nordco companies employ approximately 330 people.

Financing for the deal was provided by GE Capital, Allied Capital and OMERS Administration Corporation.