Sunday, November 29, 2015

Railway buys riverfront dump

FirstCity Crestone's Regional Rail LLC takes title to Conshy site

Railway buys riverfront dump


Kennett Square-based Regional Rail LLC, which owns the Kennett-based, 100+-mile East Penn Railroad, Bucks County-based Tyburn Railroad, and the Middletown (NY) & New Jersey Railroad, has taken title to Conshohocken Recycling & Rail Transfer LLC, a 14-acre, Schuylkill River-side complex in the industrial zone south of Norristown that handles up to 2,000 tons of construction debris a day, by truck and rail.

"We plan to grow the business" by working with construction companies that seek LEED recycling certification for buildings, Regional Rail president Bob Parker said in a statement.

The deal closed two and a half years after Regional Rail owner FirstCity Crestone, a Chicago buyout firm, bought the defaulted loan that financed  the dump's previous owners from Bank of America.

It took that long for the new owners and state Department of Environmental Protection officials to agree and implement a cleanup for the site, Michael Jacoby, partner at Phoenix Management Services, the Montgomery County Common Pleas Court-appointed receiver that ran the plant since BofA sold out, told me. The companies declined to say what Regional Rail paid.

"It was a challenge" running the facility for the past two years, given weak construction traffic, said Rick Szekelyi, managing director at Phoenix. He said the plant's "high level" of customer services and "competitive pricing" kept enough trucks rolling in the plant's Conshonocken Ave. gate to stay in business.

We encourage respectful comments but reserve the right to delete anything that doesn't contribute to an engaging dialogue.
Help us moderate this thread by flagging comments that violate our guidelines.

Comment policy: comments are intended to be civil, friendly conversations. Please treat other participants with respect and in a way that you would want to be treated. You are responsible for what you say. And please, stay on topic. If you see an objectionable post, please report it to us using the "Report Abuse" option.

Please note that comments are monitored by staff. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable. Personal attacks, especially on other participants, are not permitted. We reserve the right to permanently block any user who violates these terms and conditions.

Additionally comments that are long, have multiple paragraph breaks, include code, or include hyperlinks may not be posted.

Read 0 comments
comments powered by Disqus
About this blog

PhillyDeals posts interviews, drafts and updates that Joseph N. DiStefano writes alongside his Sunday and Monday columns and ongoing articles about Philadelphia-area business.

DiStefano studied economics, history and a little engineering at Penn. He taught writing and research at St. Joe’s. He has written for the Inquirer since 1989, except when he left a few times to work at Bloomberg and elsewhere. He wrote the book Comcasted, and raised six kids with his wife, who is a saint.

Reach Joseph N. at, 215.854.5194, @PhillyJoeD. Read his blog posts at and his Inquirer columns at Bloomberg posts his items at NH BLG_PHILLYDEAL.

Reach Joseph at or 215 854 5194.

Joseph DiStefano
Also on
letter icon Newsletter