, Aug. 5, 2013 /PRNewswire/ -- The Andersons, Inc. (Nasdaq: ANDE) announces today it has entered into an agreement to acquire
, LLC, a railcar repair and cleaning provider headquartered in
Kansas City, Missouri
"This acquisition enhances and complements The Andersons current railcar repair network by expanding our geographical footprint and business mix," says CEO
. "In addition,
has an experienced and talented workforce with a similar commitment to providing extraordinary customer service."
repairs and cleans virtually all types of railcars containing a comprehensive range of non-hazardous, hazardous and food-grade products and wastes from its headquarters in
and its three satellite locations in
. The firm maintains a central Midwest footprint with its mobile units as well.
"The acquisition of
will expand our capabilities to include tank car repair, for which there is a need for additional capacity in the industry, and is expected to increase our railcar repair revenue by 25 percent," explains
, president of The Andersons' Rail Group. "In addition, with the growth of our fleet, as well as the geographic diversity of our customers, it was becoming strategically important for us to add a second, full-service facility centrally located in the U.S."
President, says, "Joining The Andersons represents a tremendous opportunity for both our clients and employees. I look forward to continued growth while continuing to exceed our customers' expectations."
The acquisition, which remains subject to certain customary closing conditions, is expected to be finalized in the third quarter.