Affiliates of Paceline Equity Partners Acquire Rail Maintenance Leasing Business From Subsidiary of Caterpillar

Affiliates of Paceline Equity Partners, LLC (“Paceline”), a Dallas-based private equity manager, today announced that they have acquired Progress Rail Equipment Leasing Corporation (“PRELC”), a leading lessor of railroad maintenance-of-way (MOW) equipment and services, from Progress Rail, a wholly owned subsidiary of Caterpillar Inc.