Laurinburg & Southern Railroad

Project Description

Advise family on rail line and rolling stock sale

Details

Date:

Client:

Skills:

Category:

PROJECT DESCRIPTION

Advise family on rail line and rolling stock sale

BACKGROUND

The fourth generation owners of the Laurinburg & Southern Railroad called Strategic Rail Finance when they were ready to retire and sought to monetize many disparate assets.

The Evans family faced the imminent expiration of $5.5 million in tax credits in May 1998. The family engaged SRF to finance one part of the client’s solution, the reopening of a vegetable oil processing plant. The railroad and the plant were two parts of a complex set of assets that also included 6,000 acres of farm and timberland, 130 railcars, and 19 locomotives.

SRF APPROACH

Strategic Rail Finance coordinated negotiations with existing creditors and advised on the sale of the railroad.

RESULTS