OLYMPUS PARTNERS, based in Stamford, CT, today announced that it has entered into an agreement to sell its portfolio company Meridian Rail Services for $227.5 million to The Greenbrier Companies, Inc.
Dave Cardenas, a partner at Olympus, remarked: "We have enjoyed our partnership with Meridian's executive team in building Meridian into a very substantial business. Rick Turner and his team have done a terrific job of exploiting profitable market niches as they have grown." Olympus purchased Meridian in November 2004. In just under two years the value of Olympus' investment has nearly tripled.
Olympus' Managing Partner, Rob Morris, commented: "Meridian is a great example of the attractive investment opportunities available in transportation and logistics businesses. It is the fifth investment in these sectors we have had in our portfolio."
Meridian is the fourth portfolio company Olympus has sold since June 1st. Total proceeds from the announced sales of TravelCenters of America, Global Link Logistics, Club Staffing and Meridian exceed $3.0 billion as Olympus continues to avail itself of buoyant financing markets for selling.
For more information call Dave Cardenas at Olympus 203-353-5904, website: www.olympuspartners.com. For more information on Meridian Rail Services see www.meridianrail.com.
SOURCE: Olympus Partners
CONTACT: Dave Cardenas at Olympus, +1-203-353-5904