Earlier this year, Tonkon Torp represented Meridian Rail Acquisitions Corp., a subsidiary of the firm’s long-standing client The Greenbrier Companies, in the sale of substantially all of the equipment utilized in Greenbrier's reconditioned wheelset roller bearing operations in Elizabethtown, Kentucky. The purchaser was The Timken Companies, a global manufacturer of mechanical components and high-performance steel, including bearings.
The deal continued Greenbrier’s strategy to reduce non-core assets to enhance earnings and capital return. Concurrent with the asset sale, Tonkon Torp negotiated a long-term supply agreement between Greenbrier and Timken for reconditioned and new bearings. The agreement ensures Greenbrier will have a steady, cost-competitive supply of new and reconditioned bearings.
Ken Stephens led the Tonkon Torp team, which included Sherrill Corbett and Vanessa Gebbie.
Headquartered in Lake Oswego, Oregon, The Greenbrier Companies is a leading supplier of transportation equipment and services to the railroad industry.