Dallas-based Trinity Industries Inc. is exiting the highway products business in a $375 million cash deal with private equity firm Monomoy Capital Partners.

The divestiture will allow Trinity to “fully focus” on its rail-related business, Trinity CEO and president Jean Savage said in a statement Wednesday. The transaction is expected to close later this year.

“Trinity’s long history in the North American rail industry gives me great confidence that focusing our attention and resources on this industry will allow us to meet our long-term financial and operational goals,” Savage said.

Founded in 1973, Trinity’s highway business makes and sells guardrails, crash cushions, end terminals and truck-mounted attenuators. Its president, Nick Verska, will continue to lead the Dallas-based business, according to Monomoy Capital Partners.

The Trinity purchase is Monomoy’s second investment from its fourth equity fund, Monomoy Capital Partners IV. The firm manages five funds totaling $2.7 billion. It specializes in buying middle-market companies in the manufacturing, distribution and consumer product space.

Savage said Trinity expects to return a significant part of the cash to its shareholders.

“Our highway business has been performing well and the bid process was competitive, which allowed us to find the right buyer for the business and deliver a great outcome for our shareholders,” she said.

Trinity’s primary business is manufacturing, leasing and maintaining railcars under the TrinityRail name. It managed more than 133,000 railcars as of Dec. 31 that carry oil, chemicals, construction materials, and agricultural and consumer products.

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