CHICAGO, July 21, 2026 (GLOBE NEWSWIRE) -- FreightCar America, Inc. (NASDAQ: RAIL) ("FreightCar America" or the "Company"), a diversified manufacturer and supplier of railroad freight cars, railcar parts and components, today announced that it has completed the acquisition of Southern Parts & Equipment, Inc. ("SP&E"), a longstanding distributor of new, used and reconditioned railcar parts and equipment. The transaction marks the Company's second acquisition in the railcar aftermarket space within the past year.
The acquisition further expands FreightCar America's aftermarket distribution capabilities and strengthens the Company's ability to serve customers with a broader offering of railcar components and related services. Southern Parts & Equipment has built a long-standing presence in the rail industry, supplying railcar parts and equipment and supporting customers with rail industry consulting, inspections and project-related services.
"Southern Parts & Equipment is a highly complementary addition to our growing aftermarket platform," said Nicholas Randall, President and Chief Executive Officer of FreightCar America. "This acquisition further strengthens our ability to support customers with improved access to critical railcar components, while advancing our strategy to build complementary aftermarket capabilities that increase the value we deliver across the railcar lifecycle."
"We are excited to welcome Southern Parts & Equipment to FreightCar America," said Michael Riordan, Vice President, Chief Financial Officer & Treasurer of FreightCar America. "Southern Parts & Equipment brings valuable customer relationships, product knowledge and sourcing capabilities that align well with our aftermarket growth strategy. By combining its capabilities with FreightCar America's commercial reach, supply chain discipline and growing aftermarket platform, we believe we can deliver greater value to customers while continuing to scale a more diversified and recurring revenue stream. This transaction is consistent with our disciplined capital allocation framework and is expected to be immediately accretive to FreightCar America."
About Southern Parts & Equipment
Founded in Monroe, Georgia, Southern Parts & Equipment supplies new, used and reconditioned railcar parts and equipment to the railroad industry. The company serves repair shops, railroads, private car owners and other industrial customers, and has earned a decades-long reputation as a trusted source for railcar components. To learn more about Southern Parts & Equipment, visit www.southernrailparts.com.
About FreightCar America
FreightCar America, headquartered in Chicago, Illinois, is a leading designer, producer and supplier of railroad freight cars, railcar parts and components. We also specialize in railcar repairs, complete railcar rebody services and railcar conversions that repurpose idled rail assets back into revenue service. Since 1901, our customers have trusted us to build quality railcars that are critical to economic growth and instrumental to the North American supply chain. To learn more about FreightCar America, visit www.freightcaramerica.com.
Forward-Looking Statements
This press release may contain statements relating to our expected financial performance, financial condition, and/or future business prospects, events and/or plans that are "forward-looking statements" as defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our estimates and assumptions only as of the date of this press release. Our actual results may differ materially from the results described in or anticipated by our forward-looking statements due to certain risks and uncertainties. These risks and uncertainties relate to, among other things, the cyclical nature of our business; adverse geopolitical, economic and market conditions, including inflation; material disruption in the movement of rail traffic for deliveries; fluctuating costs of raw materials, including steel and aluminum; delays in the delivery of raw materials; our ability to maintain relationships with our suppliers of railcar components; our reliance upon a small number of customers that represent a large percentage of our sales; the variable purchase patterns of our customers and the timing of completion; delivery and customer acceptance of orders; the highly competitive nature of our industry; the risk of lack of acceptance of our new railcar offerings; potential unexpected changes in laws, rules, and regulatory requirements, including tariffs and trade barriers (including recent United States tariffs imposed or threatened to be imposed on China, Canada, Mexico and other countries and any retaliatory actions taken by such countries); and other competitive factors. The factors listed above are not exhaustive. New factors emerge from time to time that may cause our business not to develop as we expect, and it is not possible for us to predict all of them. We expressly disclaim any duty to provide updates to any forward-looking statements made in this press release, whether as a result of new information, future events or otherwise.
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