Chicago, IL. Nixon Peabody LLP advised National Railway Equipment Co. (NRE) in the sale of substantially all of its assets to TRM Equity II (TRM).
NRE is an independent supplier of locomotive servicing, new and remanufactured locomotives, locomotive leasing, field services, parts, and salvage operations, serving Class 1, regional, short line, government, and industrial railroads globally. This transaction clears a path for a new company, TRM NRE, to optimize its capabilities and capitalize on a large backlog of orders caused by a shifting market environment, inflation, global supply chain issues, and a tragic leadership change. Nixon Peabody advised NRE in the transaction, restructuring of debt, and the termination of its employee stock ownership plan (ESOP).
“NRE is a vital resource for locomotive and marine operators around the world and, like many other industries, experienced supply chain challenges and bottlenecks over the past few years unlike we’ve seen before,” said Gary Levenstein, a partner in Nixon Peabody’s Corporate practice, who co-led the NRE deal team. “This transaction allows NRE to build on the positive impact the company creates for its customers, employees, and communities.”
Levenstein co-led the Nixon Peabody team with partner Richard Pedone. The team also included partners Brian Alcala, Patrick Cox, Robert Drobnak, Yelena Gray, Samuel Kim, and Karen Ng; counsels Scott Alsterda and Christopher Fong; associates Anthony Bova, Jacalyn Smith, and Marc Zhang; and paralegal Astrid McGruder.
