Pinsly Railroad

What Pinsly Railroad does

Pinsly Railroad Company is a privately held short-line railroad holding company headquartered in Jacksonville, Florida, owned by Macquarie Infrastructure Partners. The company operates nine short-line railroads spanning Florida, Mississippi, Texas, Ohio, Indiana, Illinois, Massachusetts, Alabama, and North Florida, with over 800 miles of track. Its subsidiary railroads include Florida Gulf & Atlantic Railroad, Grenada Railroad, Hondo Railway, Camp Chase Railroad, Chesapeake & Indiana Railroad, Pioneer Valley Railroad, Vermilion Valley Railroad, Georgiana & Andalusia Railroad, and North Florida Industrial Railroad, each connected via interchange agreements to Class I carriers (primarily CSX, CN, UP, BNSF, NS, and KCS). The company is the second-oldest short-line railway holding company in North America, with operating roots dating to 1938. Under CEO Ryan Ratledge, appointed in 2022 following the Macquarie acquisition, Pinsly has expanded from two to nine short-line railroads and deployed roughly $70M in infrastructure investment.

The company's underlying technology is its physical rail network and interchange infrastructure rather than software. The Hondo Railway operates a 276-acre terminal with more than 18 miles of track including a unit-train loop, supporting liquid and dry bulk transload plus storage. Combined railcar storage capacity across the network exceeds 3,500 railcars (1,300 at FGA, 2,200 at GRYR), with additional capacity at other properties. Wholly-owned subsidiary Railroad Distribution Services (RDS) operates 130,000+ sq ft of combined warehouse space and 4 acres of outdoor storage on Pioneer Valley Railroad territory in Massachusetts, providing rail-served warehousing, reload, distribution, and trucking. Four Pinsly railroads achieved the ASLRRA 2023 Jake Safety Award with Distinction for zero reportable injuries.

Pinsly's business model relies on transaction-based freight rail services: (1) freight rail transportation across its short-line properties operating 5-7 days per week, with revenue per carload and storage agreements; (2) transload services enabling rail-to-truck transfer for customers without rail sidings; (3) managed railcar storage for hazardous and non-hazardous commodities; (4) industrial development and real estate services, including site identification, leases, and partnerships with economic development agencies (such as the North Florida Mega Industrial Park partnership); and (5) warehousing, distribution, and trucking through RDS. Pricing is quote-based and not publicly disclosed; sales are conducted through a dedicated commercial team with railroad-specific account managers. Revenue is concentrated in bulk commodity transportation and storage, with customer industries spanning food and agriculture, energy, paper, lumber, steel, biodiesel, and bulk chemicals.

Name

Pinsly Railroad

Legal name

Pinsly Railroad Company

Website

https://pinsly.com

Company type

Private

Founded year

1938

Operating status

Operating

Headcount range

51–100 employees

Short description

Pinsly Railroad Company is a privately held, Macquarie-backed short-line railroad holding company operating nine railroads and 800+ miles of track across nine U.S. states. It provides freight rail, transloading, railcar storage, industrial development, and warehousing services to industrial, manufacturing, agricultural, and chemical shippers via Class I interchange connectivity.

Ownership category

akta.pro rank

Product category

Short-Line Railroad Services

NAICS

Short Line Railroads (482112), Line-Haul Railroads (482111)

SIC

Railroads, Line-Haul Operating (4011)

akta.pro primary industry

Industrial & Terminal Railroads (Plant/Port Switching) (TLADACAJ)

akta.pro secondary industries

Rail Freight Yard Operations (Classification, Hump & Flat Yards) (TLAJAFAB), Dry Bulk Rail Freight (Unit Trains) (TLADAKAB), Unit Train & Dedicated Contract Rail Services (TLADACAK), Agricultural Products Rail Operators (Grain/Fertilizer) (TLADACAH)

Keywords

• Short-line railroad services
• Freight rail transportation
• Railcar storage services
• Transload logistics services
• Industrial rail development

Headquarters

HQ city

Westfield

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D

Revenue model

1. Freight Rail Services: Core freight transportation services operating 5-7 days per week across Pinsly's short-line railroads, serving customer facilities and expediting freight to and from Class 1 railroad connections
2. Transload Services: Transfer of product to or from rail cars and trucks, enabling customers without rail siding to utilize rail transportation
3. Railcar Storage: Short-term and long-term railcar storage services with capacity for hazardous and non-hazardous commodities, loaded and empty railcars
4. Industrial Development: Site identification and development services for customers seeking rail-served facilities, leveraging relationships with economic development partners and utility providers
5. Warehousing and Distribution (RDS): Rail-served warehousing, reload and distribution services with flatbed and dry van trucking, typically delivering within New England region

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Pinsly Railroad Company operates short-line freight rail services across nine railroads in nine U.S. states, transporting bulk commodities, manufactured goods, and raw materials to and from Class I railroad connections. The company provides transload services (rail-to-truck transfer) for customers without direct rail siding, railcar storage with capacity exceeding 3,500 railcars, and industrial development services for rail-served facility site selection.

Product overview

Pinsly Railroad Company is an independent railroad holding company and rail services management company offering a comprehensive suite of freight rail and logistics services. The company operates nine short-line regional railroads (Florida Gulf & Atlantic Railroad, Grenada Railroad, Hondo Railway, Camp Chase Railroad, Chesapeake & Indiana Railroad, Pioneer Valley Railroad, Vermilion Valley Railroad, Georgiana & Andalusia Railroad, and North Florida Industrial Railroad) spanning over 800 miles of track across Florida, Georgia, Mississippi, Texas, Ohio, Indiana, Illinois, Massachusetts, and Alabama. Core services include freight rail transportation, transloading (rail-to-truck product transfer), railcar storage (with capacity for 3,500+ railcars), and industrial development. Subsidiary Railroad Distribution Services provides warehousing, reload, and distribution with 130,000+ sq ft of indoor storage. The portfolio also includes tariff management, real estate services, and trucking capabilities, enabling end-to-end supply chain solutions for customers shipping bulk commodities, industrial products, and agricultural goods.

Differentiator

Problem solved

Functional benefit

Products and services

• Freight Rail Service Short-line freight rail transportation operating 5-7 days per week, serving customer facilities and expediting freight to and from Class 1 railroad connections across Pinsly's network of nine short-line railroads. Available on Camp Chase, Chesapeake & Indiana, Florida Gulf & Atlantic, Grenada, Pioneer Valley, and Vermilion Valley railroads.
• Transload Services Transfer of product to or from rail cars and trucks, enabling customers without rail siding to ship or receive product by rail. Pinsly's railroads have physical sites and expertise for rail-to-truck transloading of liquid and dry bulk commodities. Available on multiple short-line railroads including Hondo Railway with 276-acre facility and 18+ miles of track.
• Railcar Storage Short-term and long-term railcar storage services with capacity for over 3,500 railcars across the network. Offers hazardous and non-hazardous, loaded and empty storage with flexible terms. Includes 2,200 railcar capacity at Grenada Railroad and 1,300 railcar capacity at Florida Gulf & Atlantic Railroad.
• Industrial Development Site identification and development services for rail-served facilities, leveraging relationships with economic development partners, utility providers, and Class 1 railroads to find sites meeting customer needs. Available on all Pinsly short-line railroads.
• Railroad Distribution Services (RDS) Wholly owned subsidiary providing full-service warehouse, reload, and distribution center with two locations on the Pioneer Valley Railroad. Combined 130,000+ sq ft indoor storage, 4 acres outdoor storage, 25 railcar spots, flatbed and dry van trucking services typically delivering within New England region.
• Real Estate Services Land and track leasing, right of entry permits, wireline agreements, pipeline agreements, land leases, industry track connections, grade crossing applications, and track lease services for activities on Pinsly properties.
• Tariffs Public tariff documents including Pinsly 8100 (Terms and Conditions of Service and Accessorial Charges), railroad-specific tariffs (CAMY, GRYR, HRR, NFL, PVRR), and fuel surcharge tariff 12000.

Quantifiable outcome

• 3x more fuel efficient than trucks
• +2 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eleven partnerships are on record, tiered minor and core.

• Mississippi Development AuthorityminorOthers · 1 January 2020State government agency that commissioned an economic impact study showing Grenada Railroad supports 11,174 jobs, $1.3 billion in gross product, and $1 billion in personal income to Mississippi economy.
• Canadian National Railway (CN)coreTechnology or IntegrationPrimary Class I interchange partner for Grenada Railroad at both Memphis, TN and Canton, MS locations. CN also facilitates access to KCS through interchange at Jackson, MS.
• BNSF RailwaycoreTechnology or IntegrationClass I railroad interchange partner providing Grenada Railroad customers access to BNSF network via CN interchange at Memphis.
• CSX TransportationcoreTechnology or IntegrationPrimary Class I interchange partner for Florida Gulf & Atlantic Railroad at Baldwin and Pensacola, FL. Also serves as interchange partner for Camp Chase Railroad, Chesapeake & Indiana Railroad, Vermilion Valley Railroad, and Georgiana & Andalusia Railroad.
• Union Pacific (UP)coreTechnology or IntegrationClass I interchange partner for Hondo Railway providing competitive freight rate and routing options. Hondo Railway provides customers with interchange access to both UP and BNSF.
• Norfolk Southern RailwaycoreTechnology or IntegrationClass I interchange partner for Grenada Railroad (via CN switch), Camp Chase Railroad, and Chesapeake & Indiana Railroad.
• Ohio Rail Development Commission (ORDC)minorOthersState agency that awarded Camp Chase Railway a $654,410.65 grant for rail rehabilitation project in May 2024.
• Federal Railroad Administration (FRA)minorOthersU.S. Department of Transportation agency that awarded Grenada Railroad $18.2 million CRISI grant for Central Mississippi Rail Resiliency and Capacity Expansion Project, with $7.8 million non-federal match from GRYR.
• U.S. Environmental Protection Agency (EPA) SmartWayminorOthersEPA collaborative framework for tracking and reducing emissions and fuel use. Florida Gulf & Atlantic Railroad and Grenada Railroad joined SmartWay Partnership in June 2024.
• Columbia County, FloridaminorOthersCounty government partnered with Pinsly for North Florida Industrial Railroad to serve the North Florida Mega Industrial Park, a 2,622-acre shovel-ready supersite in Lake City, FL.
• WeyerhaeuserminorOthersForest products company partnered with Columbia County for North Florida Mega Industrial Park development where Pinsly operates rail services.

Scale indicators17 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Genesee & Wyoming Inc. The world's largest pure-play short-line and regional railroad holding company (110+ railroads), owned by Brookfield Infrastructure. Direct comparable as the consolidator-of-choice in U.S. short lines; both pursue industrial-customer focus with multi-commodity exposure and Class I interchanges.
• OmniTRAX: Privately-held short-line holding company operating 20+ railroads and transload facilities across the U.S. and Canada (owned by Steel Reef Infrastructure). Direct comparable in scale and strategy as a multi-state short-line and transload platform pursuing industrial development and PE-backed roll-up.
• R.J. Corman Railroad Group: Privately-held railroad services and short-line operator (multiple short lines plus rail services across the U.S.). Comparable as a privately-held, mid-cap short-line holding company offering freight rail, transload, and industrial switching services to industrial customers.
• Watco Companies: Privately-held transportation services company operating 40+ short-line railroads plus terminal, transload, and port services across the U.S. and Australia. Direct peer given its operating model of multi-state short-line ownership combined with industrial transload, port, and supply-chain logistics services.
• Anacostia Rail Holdings: Privately-held short-line railroad holding company operating 6+ railroads plus a switching and rail-services platform. Direct peer as a similarly-sized multi-railroad holding company serving industrial customers with Class I interchanges and transload capability.

Broad incumbents

• Brookfield Infrastructure Partners: Global infrastructure investor and owner of Genesee & Wyoming. Broad incumbent comparable as the institutional capital platform behind the largest short-line roll-up strategy; Pinsly's Macquarie ownership sits in the same infrastructure-PE peer set.
• CSX Transportation: Major U.S. Class I railroad and a primary interchange partner for Pinsly at FGA, Camp Chase, CKIN, VVRR, and GAR. Broad incumbent comparable as a strategic counterparty and as a benchmark for Class I-driven routings that determine short-line volume capture.
• Norfolk Southern Railway: Major U.S. Class I railroad interchanging with Pinsly at Camp Chase, Chesapeake & Indiana, and Grenada. Broad incumbent comparable as a key Class I interchange partner whose routing decisions and PSR policies directly shape Pinsly's traffic and pricing.
• Canadian Pacific Kansas City (CPKC): Class I railroad formed via the 2023 CP–KCS merger and one of Grenada Railroad's six Class I interchange partners (via former KCS). Broad incumbent comparable as a Class I counterparty shaping short-line economics in the central U.S. network.

Others

• American Short Line and Regional Railroad Association (ASLRRA): Industry trade association representing U.S. short-line and regional railroads. OTHERS — adjacent/ecosystem rather than a direct competitor, but the central lobbying, safety-award (Jake Safety Award), and grant-advocacy body that materially shapes policy and federal funding access for Pinsly and its peers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pinsly Railroad