Turnspire Capital Partners Acquires Hulcher Services

NEW YORK--(BUSINESS WIRE)--Turnspire Capital Partners LLC (“Turnspire”) announced today that an affiliate has acquired Hulcher Services, Inc. (“Hulcher”), a leading North American provider of mission-critical rail infrastructure, maintenance, and field services.

Hulcher builds, maintains, and repairs the track, locomotives, and railcars that carry freight through the North American rail network, through its 28 service centers across the United States and Mexico. Through Hulcher Resources, the company also provides a range of critical services to the industrial and agricultural sectors. Its customers include all six North American Class I railroads, short line and passenger operators, and a broad base of industrial customers. Approximately 480 Hulcher employees, trained and certified at the company’s national training center in Texas, operate a specialized fleet of more than 3,000 units of purpose-built equipment.

“Rail is critical to the industrial economy, and for six decades, Hulcher has been a trusted partner to operators, tending to the infrastructure that they simply cannot function without,” said Abel S. Osorio, Managing Partner at Turnspire. “That is exactly the kind of business Turnspire is built to support: essential, deeply embedded with customers, and powered by a field organization that performs when it matters most. We are proud to partner with the Hulcher team to build on the legacy they have created.”

“What stood out throughout the transaction process was the depth of Hulcher’s capabilities and the trust it has earned across the rail network,” said Ahdiv Nathan, Principal at Turnspire. “As customers continue to invest heavily to keep aging infrastructure in service, we intend to build on Hulcher’s foundation by investing in expansion of its equipment fleet, growing its infrastructure and maintenance service lines, strengthening the commercial program, and continuing to put resources behind safety and service quality.”

BMO Capital Markets served as financial advisor and Winston Taylor LLP served as legal counsel to Turnspire. Intrepid Investment Bankers served as financial advisor to Hulcher.

About Hulcher Services

Founded in 1966 and headquartered in Denton, Texas, Hulcher Services provides mission-critical services for the North American rail network, including mechanical services, product transfer and load adjustment, and rapid-response derailment and recovery work. The company also provides facility management, product recovery, and environmental services to industrial and agricultural customers. For additional information, visit www.hulcher.com.

About Turnspire Capital Partners

Turnspire Capital Partners invests in high-quality businesses that have reached strategic, financial, or operational inflection points and benefit from a hands-on, operationally focused approach. Turnspire’s investment philosophy centers on creating value through operational improvements rather than financial leverage. Turnspire aims to make each portfolio company best-in-class in their industry niche, then grow businesses through organic initiatives or strategic acquisitions. For additional information, visit www.turnspirecap.com.