FreightCar America, Inc.

FreightCar America, Inc.

FreightCar America, Inc.

Overview
Date Founded

2005

Headquarters

Two North Riverside Plaza,Suite 1300,Chicago, IL 60606

Type of Company

Public

Employees (Worldwide)

1,077

Industries

Railroads
Industrial Machinery & Manufacturing
Trucks, Construction & Farm Machinery

Company Description

FreightCar America, Inc. manufactures railcars and railcar components. It designs and manufactures a broad variety of railcar types for transportation of bulk commodities and containerized freight products primarily in North America, including open top hoppers, covered hoppers, and gondolas along with intermodal and non-intermodal flat cars. The company was founded in 1901 and is headquartered in Chicago, IL.

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Executives & Employees

President & Chief Executive Officer

Chief Financial Officer, Treasurer & Vice President

Vice President, General Counsel, Corporate Secretary & Human Resources

Vice President, Principal Accounting Officer & Corporate Controller

Senior Vice President-Human Resources

Vice President, Manufacturing-Shoals

Chief Information Officer

General Manager

Vice President & General Manager, Leasing

Head-Financial Planning & Analysis

Board of Directors

President & Director at West Bend Community Foundation, Inc.

Former Chief Executive Officer at Layne Christensen Co.

President & Chief Executive Officer at Port Royal Partners LLC

President & Chief Executive Officer at FreightCar America, Inc.

Former Chief Financial Officer & Senior Vice President at Meritor, Inc.

Partner at Guard Hill Holdings LLC

Paths to FreightCar America, Inc.
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FreightCar America, Inc.
Owners & Shareholders
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Bertolet Capital is a value manager that focuses on investments in the stocks of US micro- and small-cap companies in the finance, consumer non-durables and energy minerals sectors. The firm manages the Pinnacle Value Fund, diversified, SEC-registered, open-end mutual fund that invests mainly in US-based companies. The Fund seeks long term capital appreciation with income as a secondary objective. The Fund employs a value investment style that focuses on investments in a diversified portfolio of securities issued by small-cap and micro-cap companies that are trading at significant discounts to underlying earnings power or asset value.

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Marquette Asset Management employs sophisticated modeling tools to identify the optimal asset allocation for each client. Portfolios may include one or a combination of the following: US large-cap growth stocks, US large-cap value stocks, US small-cap stocks, US mid-cap stocks, international equities, US Government bonds, US corporate bonds and US municipal bonds. The firm utilizes both internally and externally managed investment strategies.The firm's growth strategy seeks superior after-tax returns and above-average capital growth. Marquette uses quantitative and fundamental analysis to identify large-cap companies with above-average growth rates relative to their current market price. Their disciplined valuation approach identifies attractive sectors, industries and individual stocks. Marquette's process begins with an initial universe of about 900 large-cap issues which are screened for attractive price-to-earnings-to-growth ratios and superior long term growth rates within the sector and industry. The firm then conducts fundamental analysis of each company's financial strength and industry leadership. Sector weightings range from 50% to 200% of the Russell 1000 Growth Index sector weighting.Marquette's dividend equity strategy seeks superior after-tax returns while providing a predictable income stream. The strategy invests in high quality, high-yield, value-oriented companies that have increasing dividends and strong cash flow. The firm's investment selection process begins with an initial universe of about 2100 NYSE listed securities. They seek to identify 50 companies that meet the following criteria: (1) are in the top half of dividend paying companies (2) are in the lower half of price-to-earning ratio (3) have a debt rating of BBB or better (4) have a history of steady, increasing dividends and (5) have adequate free cash flow. The firm applies sector limits and employs fundamental analysis of each company's financial strength and industry leadership.The firm's Fed Focused Strategy seeks superior long-term, risk-adjusted returns through investments in a concentrated portfolio of companies that are well-positioned to capitalize on an expanding economy. The strategy focuses on the aerospace, automotive, electronics, technology, home builders and airlines sectors. Marquette pays close attention to the monetary policies and the intent of the Federal Reserve Board and uses a proprietary liquidity algorithm to evaluate economic cycles. When conditions are not conducive for growth, the firm reduces their exposure to the companies in the portfolio and increases their cash position. Individual securities are selected through a fundamental process that evaluates the company's leadership within its industry, balance sheet strength and historical performance in expanding markets.Marquette's fixed-income strategy seeks steady income, predictable returns and protection against loss of principal. Investments include tax-free or taxable bonds depending on the tax status of the account and the client's marginal tax rate. The firm evaluates credit quality, liquidity, maturity, geography, structure and tax status. Municipal bonds are often employed.

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Orchard Capital Management's investment strategies focus on value investing. Orchard Capital and its principals are responsible for identifying and implementing the methods of analysis used in formulating investment recommendations to clients. The methods of analysis may include quantitative methods for optimizing client portfolios, computer-based risk/return analysis, technical analysis, and statistical and/or computer models utilizing long-term economic criteria. Orchard Capital's intrinsic value strategies employ a consistent and disciplined approach with an emphasis on fundamental research to develop proprietary knowledge about potential investments. They use this knowledge to develop a best possible estimate of intrinsic value and strive to generate excess returns by investing at a significant discount to that intrinsic value. Orchard Capital offers a platform of related investment management products and services including separate accounts, a registered fund, and alternative asset vehicles.

Recent Transactions
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FreightCar America, Inc. purchases Navistar, Inc. from Navistar International Corp.

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ARS Holdco Corp., ARS Nebraska LLC purchase Freightcar America, Inc. /Subsidiaries (2) from FreightCar America, Inc.

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ShipXpress, Inc. purchases FreightCar America, Inc. /Rail Fleet Mgmt Software Svcs Bus from FreightCar America, Inc.

Insider Transactions
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Transaction Advisors
Underwriter

Advised onFreightCar America, Inc. issued Common Stock

Auditor

Advised onFreightCar America, Inc. issued Common Stock

Underwriter

Advised onFreightCar America, Inc. issued Common Stock

Legal Advisor

Advised onFreightCar America, Inc. issued Common Stock

Advisors & Consultants
Legal Advisor

Chair, Employee Benefits & Executive Compensation Practice at Winston & Strawn LLP

Legal Advisor

Co-Chair, Intellectual Property Practice at Winston & Strawn LLP

Advisor

Former Chief Financial Officer at Dorman Products, Inc.

Clients

Wells Fargo & Co. is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. The firm operates through the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management, and Other. The Community Banking segment offers complete line of diversified financial products and services for consumers and small businesses including checking and savings accounts, credit and debit cards, and automobile, student, and small business lending. The Wholesale Banking segment provides financial solutions to businesses across the United States and globally. The Wealth and Investment Management segment includes personalized wealth management, investment and retirement products and services to clients across U.S. based businesses. The Other segment refers to the products of WIM customers served through community banking distribution channels. The company was founded by Henry Wells and William G. Fargo on March 18, 1852 and is headquartered in San Francisco, CA.

CIT was born in 1908 when Henry Ittleson found a new way to make financing available to businesses in St. Louis, Missouri. Soon CIT was forging paths across the country, into Canada and overseas. After 100 years, financing remains at the heart of the company. But time and experience have produced innovations unimagined a century ago. True to its pioneering legacy, CIT remains an agent of opportunity, providing new resources and fresh perspectives to over one million clients across thirty industries around the globe.

Citi works tirelessly to provide consumers, corporations, governments and institutions with a broad range of financial services and products. They strive to create the best outcomes for their clients and customers with financial ingenuity that leads to solutions that are simple, creative and responsible.

Key Stats and Financials As of 2018
Market Capitalization
$76.2M
Total Enterprise Value
$14.4M
Earnings Per Share
$-3.29
Revenue
$317M
Net Profit
$-40.6M
EBITDA
$-20.7M
EBITDAMargin
-6.53%
Total Debt
$0
Total Equity
$194M
Enterprise Value Sales
0.05x
TEVNet Income
-0.35x
Debt TEV
0x
Three Year Compounded Annual Growth Rate Of Revenue
-25.74%
Five Year Compounded Annual Growth Rate Of Revenue
1.74%
Political Donations
$200
2007
$300
2007
$250
2007
Investors
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Dunton Capital focuses on companies operating in US. It targets companies with revenues of $2mm to $5mm and EBIT of $500000. It targets companies operating in Entertainment, Industrial Manufacturing, Business services, Consumer products, Energy services,Health care, transportation and Aerospace. It provides financing for recapitalization, Management buyput, growth capital and ESOP.

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Trimaran seeks long-term capital appreciation by making privately negotiated equity or equity-oriented investments in niche middle-market companies. They typically invest $25 to $100 million of equity in transactions ranging in value from under $100 million to $1 billion.Trimaran invests in a variety of transaction types that support diverse business strategies and take advantage of market opportunities. They look for businesses than can be operated with greater financial leverage, often in situations where a change of ownership frees management to pursue goals that create long-term value.For buy and hold, the firm invests in platform acquisitions. They then seek to create value by making subsequent complementary acquisitions that expand product lines or geographic reach, leverage manufacturing or distribution facilities, or create scale that results in multiple expansion.For growth investments, Trimaran seeks growing companies with capital needs that cannot be satisfied by conventional financing. These include private companies as well as public companies, some of whose thinly traded stocks inhibit their ability to raise equity capital.

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Hancock Capital Management LLC provide financing for senior, junior credit solutions, Equity Co-investments and mezzanine to finance leveraged buyouts, corporate growth, acquisitions and balance sheet recapitalizations. It acquires non controlling interest with an investment size of $10 million to $50 million per transaction.

Suppliers
Amsted Industries, Inc. Engineering, Construction & Architecture | Chicago, IL

Amsted Industries, Inc. designs, manufactures, and markets industrial components for railroad, vehicular, construction, and building markets. The firm offers undercarriage and end-of-car railcar components, piston pins for internal combustion engines and compressors, powder metal parts, cool air conditioning to machinery and buildings, sealing solutions, and metal fabrication. The company was founded in 1962 and is headquartered in Chicago, IL.

Navistar International Corp. Industrial Machinery & Manufacturing | Lisle, IL

Navistar International Corp. is a holding company, which engages in the manufacture of military truck, proprietary diesel engines, school and commercial buses, and service parts for trucks and diesel engines. It operates through the following segments: Truck, Parts, Global Operations, and Financial Services. The Truck segment manufactures and distributes class four through eight trucks, buses, military and government vehicles under the International, and IC Bus (IC) brands, and produces engines under its proprietary brand name and parts required to support the military truck lines. The Parts segment offers a proprietary products needed to support the International commercial truck, IC Bus, proprietary engine lines, and export parts business, as well as its other product lines. The Global Operations segment comprises of Brazil engine operations which produce diesel engines under contract manufacturing arrangements. The Financial Services segment includes retail, wholesale, and lease financing of products sold by the truck and parts segments, and dealers within the United States, and Mexico. The company was founded in 1902 and is headquartered in Lisle, IL.

Samuel, Son & Co. Ltd. Metal Manufacturing & Products | Mississauga, ON

Samuel, Son & Co. Ltd. engages in the manufacturing and distribution of carbon steel, stainless steel, and aluminum industrial metal products. It offers carbon steel-plate, copper and brass, prepainted metals, and stainless steel. The company was founded by Lewis and Mark Samuel in 1855 and is headquartered in Mississauga, Canada.

Competitors
Trinity Industries, Inc. Railroads - DALLAS, TX

Trinity Industries, Inc. engages in the provision of rail transportation products and services in North America. It operates through the following segments: Railcar Leasing and Management Services Group, Rail Products Group and All Other. The Railcar Leasing and Management Services Group segment provides railcar industry services. The Rail Products Group segment includes the results of heads business. The All Other segment includes the results of highway products business. The company was founded in 1933 and is headquartered in Dallas, TX.

Greenbrier Cos., Inc. Trucks, Construction & Farm Machinery - LAKE OSWEGO, OR

Greenbrier Cos., Inc. engages in the design, manufacture, and marketing of railroad freight car equipment. It operates through the following segments: Manufacturing; Wheels and Parts; and Leasing and Services. The Manufacturing segment includes double-stack intermodal railcars, tank cars, and marine vessels. The Wheels and Parts segment produces railroad accessories and provides wheel and axle maintenance and services. The Leasing and Services segment offers management solutions to railcars for railroads, shippers, and carriers. The company was founded in 1981 and is headquartered in Lake Oswego, OR.

American Railcar Industries Inc. Railroads - St. Charles, MO

In February of 1864 the Milton Car Works was formed in Milton, Pennsylvania by Murray, Dougal & Company. A year later, the Milton Car Works began delivering some of the world’s first tank cars. Designed by Amos Densmore, this unique conveyance consisted of two wood stave barrels mounted on a flat car. The Densmore tank car ushered in a new era for the railroads and a new industry that 129 years later would become American Railcar Industries, Inc. 1900 St. Charles Saint Charles in 1900 In 1899 with a capital of $60,000,000, the Milton Car Works and 12 other railcar builders lead by William Keeny Bixby of Missouri Car and Foundry formed our predecessor company, the American Car and Foundry Company (AC&F, later shortened to ACF). Thus began our history of progress, leadership and innovation in rail car design and manufacturing. Among many of its proud achievements, ACF lays claim to building the first all-steel passenger car for New York City's pioneer subway, the Interborough Rapid Transit Company followed by the sale of more than 100 motor and trailer subway cars for London's famous Underground. By 1906, ACF had steel shops at St. Louis, Missouri; Detroit, Michigan; Berwick, Pennsylvania; Huntington, West Virginia and Madison, Illinois. In 1917, Shippers Car Line began operation as a tank car leasing company then acquired by ACF in 1927. ACF played an active role in both World Wars, producing for the Allies in WWI a diversity of products like artillery gun mounts and ammunition, field kitchens, pack saddles, submarine chasers, cloth shrinking machines and rollers, and even wooden tent pegs. During World War II, ACF built army tanks, aircraft tail assemblies, artillery shells, armor plate, and hospital cars. Until the end of World War I, ACF's Wilmington plant produced boats for the U.S Navy then switched production to luxury wooden yachts, many of which still exist. In 1922, ACF expanded into the automotive industry when it acquired Carter Carburetor Corporation of St. Louis. This began a long period of diversification and expansion into bus and street car manufacturing highlighted by acquisitions of Fageol Motors Co, the Hall-Scott Motor Car Company and J. G. Brill Company. By 1954, the corporation's interests had become so diversified that the name was changed to ACF Industries, Inc. ACF produced its last passenger railcar in 1959. American Railcar Industries, Inc. has its headquarters in Saint Charles, Missouri outside of Saint Louis on the grounds of American Car and Foundry’s original manufacturing center circa 1899. Our Future American Railcar Industries, Inc. was formed in 1994 from the acquisition of railcar component manufacturing and railcar maintenance assets from ACF Industries. Today ARI, a publicly held corporation, is a fully integrated supplier to the North American freight car market. ARI designs and manufactures new railcars, railcar parts, operates a network of railcar repair centers. We supply rail fleet management and Engineering services to shippers, equipment leasing companies and railroads. Our industrial products group provides industry with a variety of services including steel and aluminum castings, heavy steel fabrication, roll forming, production machining, specialty welding and forging

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