Alpenglow Rail, CC&L Infrastructure Build on ‘Long-Term Investment Strategy’
The companies in 2019 teamed to develop and operate a diversified portfolio of rail businesses across North America. Alpenglow’s portfolio now encompasses six rail terminals: three in Canada under the VIP Rail brand (Sarnia and Corunna in Ontario and Alberta Midland in Alberta) and three in the United States under the USA Rail brand (Port Allen in Louisiana and Port Arthur and Orange in Texas). It also offers railcar storage, switching, transloading, and railcar cleaning, among other services.
“CC&L Infrastructure is pleased to complete this successful financing, which underscores the strength of our partnership with Alpenglow and the quality of the rail platform we have built together,” said Ryan Lapointe, Managing Director of CC&L Infrastructure, which is part of Connor, Clark & Lunn Financial Group Ltd., an independently owned, multi-affiliate asset management firm that is said to provide a broad range of traditional and alternative investment management solutions to institutional and individual investors. “At the outset of our partnership, we envisioned creating a safe, scalable, customer-focused rail business and this financing positions us well to continue executing on that vision. Our long-term investment approach provides a strong value proposition within the rail sector, and we look forward to supporting the next phase of growth and value creation across the portfolio.”
“Together with CC&L Infrastructure, we remain focused on owning and operating high-quality rail assets for the long term,” Alpenglow Rail CFO Henning von Kalm noted. “This private placement is a testament to the resilience of our business model and the confidence investors have in our platform. Alpenglow’s rail terminals are strategically located within North America’s leading refining and petrochemical hubs—the Alberta Heartland, the U.S. Gulf Coast and Southwestern Ontario. With this established footprint across multiple markets, we are excited to build on our successes and continue delivering strong results.”
According to the partners, CIBC Capital Markets served as their exclusive financial advisor and lead placement agent; National Bank of Canada Capital Markets and Desjardins Capital Markets served as additional placement agents; and Torys LLP acted as issuer’s counsel.
