Trinity Industries, Inc. Announces the Acquisition of Quasar Platform

Rhea-AI Summary

Trinity Industries, Inc. (NYSE:TRN) has acquired Quasar Platform Inc. from Cando Rail & Terminals Ltd., enhancing its digital offerings with advanced rail logistics software. The acquisition, which closed on May 26, adds capabilities like yard management and data visualization tools to Trinity's existing Trinsight™ platform, aimed at improving supply chain efficiency for freight rail shippers. All Quasar employees will be retained. This acquisition is not expected to significantly impact Trinity's financial results.

Positive

• Enhances digital portfolio with Quasar's advanced rail logistics software.
• Adds new capabilities such as yard management and data visualization to Trinsight™.
• Supports supply chain efficiency for freight rail shippers.

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• None.

DALLAS--(BUSINESS WIRE)-- Trinity Industries, Inc. (NYSE:TRN) (“Trinity”) today announced the acquisition of Quasar Platform Inc. (“Quasar”) from Cando Rail & Terminals Ltd.. Quasar is an end-to-end rail logistics software platform providing a real-time data universe to freight rail shippers and operators. The acquisition enhances Trinity’s digital product portfolio, including Trinsight^™, by adding additional capabilities like yard management, activity-based costing, and new data visualization tools.

“Shippers are looking for solutions that increase efficiency and visibility of their supply chain, and the Quasar team puts tremendous value on solving customer challenges and being responsive to rail shippers’ needs,” said Trinity’s Executive Vice President and Chief Commercial Officer, Gregg Mitchell. “This acquisition is an important enhancement to the Trinsight platform, as Trinity is committed to growing its services offering with new innovations to create deeper relationships with, and a better experience for, rail shippers.”

The acquisition closed on May 26 and is not expected to be material to Trinity’s results. Trinity will retain all of the employees of Quasar as part of the transaction. PricewaterhouseCoopers Corporate Finance Inc. was the exclusive financial advisor to Quasar.

About Trinity Industries
Trinity Industries, Inc., headquartered in Dallas, Texas, owns businesses that are leading providers of rail transportation products and services in North America. Our businesses market their railcar products and services under the trade name TrinityRail®. The TrinityRail platform provides railcar leasing and management services, as well as railcar manufacturing, maintenance and modifications. Trinity reports its financial results in two reportable segments: the Railcar Leasing and Management Services Group and the Rail Products Group. For more information, visit: www.trin.net.

Some statements in this release, which are not historical facts, are “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about Trinity's estimates, expectations, beliefs, intentions or strategies for the future, and the assumptions underlying these forward-looking statements, including, but not limited to, future financial and operating performance, future opportunities and any other statements regarding events or developments that Trinity believes or anticipates will or may occur in the future, including the potential financial and operational impacts of the COVID-19 pandemic. Trinity uses the words “anticipates,” “assumes,” “believes,” “estimates,” “expects,” “intends,” “forecasts,” “may,” “will,” “should,” “guidance,” “projected,” “outlook,” and similar expressions to identify these forward-looking statements. Forward-looking statements speak only as of the date of this release, and Trinity expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Trinity’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based, except as required by federal securities laws. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from historical experience or our present expectations, including but not limited to risks and uncertainties regarding economic, competitive, governmental, and technological factors affecting Trinity’s operations, markets, products, services and prices, and such forward-looking statements are not guarantees of future performance. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” and “Forward-Looking Statements” in Trinity’s Annual Report on Form 10-K for the most recent fiscal year, as may be revised and updated by Trinity’s Quarterly Reports on Form 10-Q, and Trinity’s Current Reports on Form 8-K.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220531005294/en/

Investor Contact:

Leigh Anne Mann

Vice President, Investor Relations

Trinity Industries, Inc.

(Investors) 214/631-4420

 

Media Contact:

Jack L. Todd

Vice President, Public Affairs

Trinity Industries, Inc.

(Media Line) 214/589-8909

 

Source: Trinity Industries, Inc.

FAQ

What is the significance of Trinity's acquisition of Quasar Platform Inc. for TRN shareholders?

The acquisition enhances Trinity's digital offerings and is aimed at improving supply chain efficiency, potentially benefiting TRN shareholders in the long term.

When did Trinity Industries acquire Quasar Platform Inc.?

The acquisition of Quasar Platform Inc. by Trinity Industries was completed on May 26.

How will the acquisition of Quasar impact Trinity's Trinsight™ platform?

The acquisition will add new capabilities, including yard management and data visualization tools, to Trinity’s Trinsight™ platform.

Is the Quasar acquisition expected to affect Trinity's financial results significantly?

No, the acquisition is not expected to be material to Trinity's financial results.