Big firm snags sleepy Midwest railroad in standard deal shuffle
Published Date: 10/2/2026
Notice
Summary
Macquarie Infrastructure Partners V GP and its affiliates are taking control of the Kankakee, Beaverville and Southern Railroad, a freight railroad running about 160 miles in Illinois and Indiana. This change means Pinsly Holdco and Pinsly Railroad Company will now own and operate KBSR, which was previously controlled by the Stroo Family. The deal, agreed on September 16, 2026, expands Macquarie’s rail network without any immediate cost changes announced.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 2 costs, 1 mixed.
No labor-protective conditions for this Class III sale
Because the transaction involves only Class III rail carriers, 49 U.S.C. 11326(c) does not provide for labor protection for this type of transaction, so the Board may not impose labor-protective conditions. The exemption is effective October 17, 2026.
Private equity firm takes control of local freight rail
Macquarie Infrastructure Partners V GP, through Pinsly Holdco and Pinsly Railroad Company, will acquire 100% of the Kankakee, Beaverville and Southern Railroad (KBSR). KBSR operates approximately 159.7 miles of track in Illinois and Indiana; the Purchase Agreement is dated September 16, 2026, and the exemption becomes effective October 17, 2026. The notice did not announce any immediate changes to rates or costs.
Transaction excluded from environmental and historic review
The Surface Transportation Board stated the action is categorically excluded from environmental review under 49 CFR 1105.6(c) and from historic preservation reporting under 49 CFR 1105.8(b). That means no environmental or historic-preservation studies will be conducted as part of this exemption.
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