Duration Capital Partners, a New York-based investment firm focused on long-term investments in North American transportation infrastructure, recently purchased a minority stake equity investment of Watco Companies, a Kansas-based transportation service and logistics company, for more than $600 million.
“This investment is a testament to the strength of our partnership with Watco,” Josh Connor, Duration co-CEO, said. “Watco exemplifies the type of company we want to support for many years to come—focused on safety, customer service, and operational excellence. It is a privilege to continue growing together.”
Watco will use the proceeds to support its long-term strategic objectives including Watco full ownership of Industrial Rail Services, an operator of rail assets at six Dow Chemical facilities in the U.S. and Canada.
“We believe in building durable, values-driven businesses alongside exceptional management teams,” Emmett McCann, Duration co-CEO, said. “Our relationship has grown into a deep collaboration, and we have helped many customers expand their businesses. Watco is a world-class operator, and we are proud to be their long-term partner.”
Duration Capital Partners manages more than $4 billion and focuses on essential assets across aviation, ports, and rail.
Watco owns and operates a diverse network of short line railroads, terminals, ports, and mechanical shops in North America and Australia. It employs nearly 5,000 people.