OmniTRAX, Inc. signed a definitive agreement to acquire Winchester & Western Railroad Company, Inc. from Covia Holdings Corporation (NYSE:CVIA) for approximately $110 million on July 25, 2019. The consideration will be paid in cash and is subject to certain adjustments. As part of the transaction, OmniTRAX will assume ownership of approximately 470 railcars which the W&W currently owns. The transaction is subject to customary closing conditions, including Surface Transportation Board review, regulatory and third-party approvals and delivery of duly executed and authorized counterparts of the ancillary agreements (comprising Covia commercial agreements and transition services agreement). The transaction has been unanimously approved by Board of Directors of Covia Holdings Corporation. The transaction is expected to close in the third quarter of 2019. BMO Capital Markets Corp. is serving as financial advisor and Margaret D. Farrell of Hinckley, Allen & Snyder LLP is serving as legal advisor to Covia. OmniTRAX, Inc. completed the acquisition of Winchester & Western Railroad Company, Inc. from Covia Holdings Corporation (NYSE:CVIA) on September 10, 2019.