May 31, 2022 - TRA Newswire -

Dallas-based Trinity Industries, Inc. (NYSE:TRN) ("Trinity") today announced the acquisition of Quasar Platform Inc. ("Quasar") from Cando Rail. Quasar is an end-to-end rail logistics software platform providing a real-time data universe to freight rail shippers and operators.

The acquisition enhances Trinity’s digital product portfolio, including Trinsight, by adding additional capabilities like yard management, activity-based costing, and new data visualization tools

"Shippers are looking for solutions that increase efficiency and visibility of their supply chain, and the Quasar team puts tremendous value on solving customer challenges and being responsive to rail shippers’ needs," said Trinity’s Executive Vice President and Chief Commercial Officer, Gregg Mitchell. "This acquisition is an important enhancement to the Trinsight platform, as Trinity is committed to growing its services offering with new innovations to create deeper relationships with, and a better experience for, rail shippers."

Both Trinity Industries and Quasar Platform were key presenters on a panel at the 2022 Southwestern Rail Conference in Dallas on April 1, discussing how shippers can more effectively monitor their cargo movements shipped by rail.

The acquisition closed on May 26 and is not expected to be material to Trinity’s results. Trinity will retain all of the employees of Quasar as part of the transaction. PricewaterhouseCoopers Corporate Finance Inc. was the exclusive financial advisor to Quasar.

Trinity Industries owns businesses that are leading providers of rail transportation products and services in North America. Their businesses market railcar products and services under the trade name TrinityRail®. The TrinityRail platform provides railcar leasing and management services, as well as railcar manufacturing, maintenance and modifications. Trinity reports its financial results in two reportable segments: the Railcar Leasing and Management Services Group and the Rail Products Group.

Photo credit: Trinity Rail