NORTH AMERICA: US-based yard management and regulatory compliance software development company Railroad Software has announced a majority recapitalisation with Toronto-based investor Arcadea Group.
Founder Jeff Birmingham will retain a significant stake and remain as a director, with Steve Yoder continuing as CEO.
‘The past 10 years have seen Railroad Software growth from an idea to an at-scale, high-growth provider of industry leading software’, Birmingham said on April 9. ‘I knew there would come a time when I would want a partner to help me scale and preserve the business over the long-term. Having been approached regularly by investment firms over the past few years, Arcadea stood out as the right partner due to their emphasis on brand and product identity, permanent holding profile, and their focus on customer and team success.’
Arcadea Group Managing Director Paul Yancich said ‘over the past two years studying the global rail and transportation market, we found that most software providers fall into two buckets: the first includes outdated technology with low growth; the second consists of venture-backed entrants without industry experience nor sustainable cultures.’
He said ‘the team at Railroad Software have the unique mix of industry credibility and modern technical underpinnings, which in combination have led to incredible growth and enduring customer happiness.’
