Wind Point Partners, a Chicago-based private investment firm, has acquired Draper-based Velocity Rail Solutions. Velocity’s services include mobile refueling, inspection, maintenance and light repairs and replenishment of consumables such as oil, sand and water for railroad operators. It operates 75 sites with 450 employees and more than 250 specialty vehicles.
Velocity was acquired from previous owner A. Stucki Co., a Pennsylvania-based railroad machinery company. Velocity President Jeff Chesler will remain at the head of the company.
“Wind Point offers Velocity access to a comprehensive executive network and additional resources that will significantly enhance our ability to grow and better support our customers,” Chesler said in a statement.
Financial terms of the acquisition were not disclosed.