Northborne Partners advised Rail Modal Group on InfraRed's strategic investment, adding deal details to the previously announced majority acquisition of the agricultural export logistics platform.
InfraRed Capital Partners said one of its value-add funds has acquired a majority stake in Rail Modal Group, a U.S. inland intermodal rail terminal and export logistics platform focused on agricultural and other shippers, and Northborne Partners said it served as exclusive financial advisor to RMG on the transaction. RMG founder and Chief Executive Officer Greg Oberting remains invested and continues to lead the business. The companies have said they plan to invest further in expanding capacity and resilience at RMG's existing terminals, broadening service capabilities, and developing additional locations, while financial terms were not disclosed. Founded in 2018, RMG operates four large-scale inland terminals across the U.S. Midwest and Plains, linking customers to the North American Class I rail network and major U.S. gateway ports. The platform provides containerized export services that move freight from producers to foreign ports, including full-length 100+ car unit trains with on-dock service into U.S. West Coast container ports. InfraRed said RMG has shipped more than 1,200 unit trains since inception, equivalent to about 200 million truck miles. Northborne described the company as one of the largest private inland intermodal terminal networks in the United States and said the deal was its 17th completed rail-related transaction in the past five years. The transaction highlights continued investor interest in logistics infrastructure tied to the U.S. agricultural supply chain, where production is often located far from marine terminals and major inland intermodal hubs.