RailAmerica Picks Up Three Railroads

Fortress Investment Group-backed RailAmerica (NYSE: RA) has acquired Three Notch Railroad, Wiregrass Central Railroad and Conecuh Valley Railroad from Gulf and Ohio Railways for $12.7 million. The three short-line freight railroads are located in Alabama and primarily transport agricultural and manufactured products. RailAmerica owns and operates short-line and regional freight railroads in North America. Fortress acquired RailAmerica in 2007 and took it public in 2009.