Industry Railroad Founded 2001 Type of business Private | Revenue 50 million USD Number of employees 200 | |
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Key people Edwin E. Ellis, Jr, CEO Products U.S.A.Permian Basin RailwaysTexas – New Mexico RailroadWest Texas and Lubbock RailwayChicago Terminal RailroadRio Grande Scenic RailroadMount Hood RailroadSaratoga and North Creek RailroadGrenada RailwayU.K.Dartmoor RailwayWeardale Railway Profiles | ||
Iowa pacific holdings
Iowa Pacific Holdings is a holding company that owns railroad properties across North America and the United Kingdom, as well as providing services such as railcar repairs and leasing and management and consulting services to other operators. The company was founded in 2001 with headquarters in Chicago, Illinois; the current CEO is Edwin E. Ellis, Jr.
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Holdings
Iowa Pacific's North American freight services are operated by subsidiary Permian Basin Railways, which was formed in 2002 to operate the Texas – New Mexico Railroad and the West Texas and Lubbock Railway; since then, Iowa Pacific through Permian Basin has acquired the Arizona Eastern Railway in 2004, (sold September 1, 2011 to Genesee & Wyoming Inc.) the San Luis & Rio Grande Railroad in 2005, the Chicago Terminal Railroad in 2006 and the Mount Hood Railroad in 2008.
In addition to freight operations, Iowa Pacific operates several passenger train operations through North America. The Rio Grande Scenic Railroad began operations in 2006, the Mount Hood Railroad, which operates both freight and passenger services, was purchased in 2008, the same year Copper Spike Excursion Train service began over Arizona Eastern trackage. The Saratoga and North Creek Railroad began operations in the summer of 2011, offering scheduled passenger rail service, as opposed to excursion trains.
Iowa Pacific also fully owns the Dartmoor Railway and a controlling stake in the Weardale Railway, both shortlines in the United Kingdom that operate freight and passenger services; Iowa Pacific purchased the companies in 2008, operating them under the name British American Railway Services.
In 2012 Iowa Pacific acquired three railroad operations during the year:
In February, 2014, Iowa Pacific began test commercial runs of the Eastern Flyer, a passenger train service between Oklahoma City and Tulsa.
In April 2015, Iowa Pacific announced a deal with the Indiana Department of Transportation and Amtrak to supply rolling stock and on-board services personnel for the Hoosier State, which runs between Chicago and Indianapolis. Indiana announced on January 30, 2017, that Amtrak would resume providing rolling stock for the Hoosier State on March 1, as Iowa Pacific was no longer able to fulfill the contract.
In May 2015, Watco Companies announced that it would purchase two Iowa Pacific subsidiaries, the Texas New Mexico Railroad and the West Texas and Lubbock Railroad.
In September 2015, Iowa Pacific took over operations of the Grenada Railway in Mississippi.
It should be noted that despite its name, the Iowa Pacific Railroad does not serve, and has never served, the state of Iowa.
Trouble is brewing, however, as Iowa Pacific is undergoing serious financial difficulties.