NARS Acquires Tri Innovations in Calgary
Expansion Into Engineering and EPC Services
FORT WORTH, Texas, June 20, 2024 – North American Rail Solutions (NARS) announced the acquisition of Tri Innovations Consulting Ltd., based in Calgary, Alberta. With this move, NARS expands its service offering and strengthens its position in the North American rail industry.
About Tri Innovations
Tri Innovations delivers Engineering, Procurement, and Construction (EPC) services, including feasibility studies, detailed engineering, and project management. The company also supports supply chain operations, construction, fabrication, commissioning, and ongoing operational support. Tri Innovations operates across energy, transportation, agriculture, and renewable sectors, with expertise in facilities, terminals, industrial transport, and material handling systems.
Strategic Value of the Acquisition
According to CEO Thomas Lucario, the acquisition adds critical capabilities to NARS and strengthens its ability to deliver fully integrated services. NARS can now provide end-to-end solutions, from design-build to maintenance and operations. The addition of Tri Innovations also enhances innovation and problem-solving across projects in both the U.S. and Canada.
Leadership Perspective
Kurt Findlay, CEO of Tri Innovations, expressed strong support for the partnership. He highlighted the shared focus on innovation and customer-first solutions, noting the collaboration will expand service reach and deliver greater value to clients.
About North American Rail Solutions
North American Rail Solutions formed in 2021 after DFW Capital Partners acquired American Track. Today, NARS operates from 25 full-service locations across the U.S. and Canada, delivering services that support safety, compliance, and railway performance. The company serves industries including manufacturing, petrochemical, mining, agriculture, food production, ports, and rail networks.
About DFW Capital Partners
DFW Capital Partners is a private equity firm focused on lower middle-market companies, managing approximately $2 billion in assets. The firm invests in service-based businesses, including industrial support and healthcare, and has built a strong track record over 20+ years.
Strengthening Market Position
This acquisition positions NARS as a more comprehensive provider in the rail sector. By combining engineering expertise with operational services, the company delivers more efficient solutions and stronger long-term value for clients.