Basalt Infrastructure Partners LLP, a London-headquartered transatlantic mid-market infrastructure investment firm with approximately US$8 billion in assets under management, completed the acquisition of 1435 Rail Equipment Leasing and Maintenance, Inc. (R.E.L.A.M.) from Paceline Equity Partners, LLC, a Dallas-based private equity manager, on May 28, 2026. The transaction was originally announced on May 11, 2026. Financial terms were not disclosed by the parties.

R.E.L.A.M. is a leading North American provider of maintenance-of-way and hi-rail equipment leasing and related services, supporting rail infrastructure operators and contractors across the United States and Canada. The platform was assembled by Paceline in 2020 through the parallel acquisitions of R.E.L.A.M., Inc. and 1435 Rail, Inc., which were subsequently combined under the R.E.L.A.M. brand. Under Paceline's ownership, the platform tripled revenue through organic growth, two add-on acquisitions — including Progress Rail Equipment Leasing Corporation acquired from Caterpillar Inc.'s Progress Rail division, and Falcon Equipment Ltd., a Surrey, British Columbia-based specialty truck and equipment solutions provider — modernization and expansion of its equipment fleet, and the divestment of non-core operations, positioning R.E.L.A.M. as a pure-play maintenance-of-way and hi-rail equipment leasing platform serving Fortune 500 railroad operators and contractors.

R.E.L.A.M. is led by chief executive officer John Roberts. The acquisition reflects continued private equity interest in transportation infrastructure and industrial services, driven by recurring equipment demand, long-lived asset profiles, and sustained North American rail infrastructure spending.