About Us

MidRail is a freight rail operating company focused on originating, acquiring, consolidating, and developing integrated rail assets and operations across North America. MidRail intends to acquire and operate private industrial rail operations and outsourcing opportunities, short lines, Class I spin-offs, independent rail facilities and operators, and select rail technology businesses. We are seeking to deploy $1 billion ($350 million in equity capital) over the next two to three years in freight rail businesses. As an operating company, we have the permanent capital to make things happen in the smaller, undercapitalized, and underfollowed segments of freight rail operating businesses. We seek out management and rail activities that have been overlooked by others. The company was founded by Gilbert H. Lamphere along with a team of railroad operating executives with over 200 years of combined rail experience.

Mr. Lamphere is the former Chairman of the Illinois Central Railway (IC), Co-Founder of MidSouth Rail Corporation and former board member of Canadian National Railway, CSX, and Florida East Coast Railway (FLE). Mr. Lamphere has led teams that bought, managed, and turned around IC and MidSouth, creating gains for investors in excess of $2.3 billion; he was a critical director of Canadian National and FLE, led by former IC executives who produced gains of over $25 billion for shareholders. Former IC executives also turned around Southern Pacific Railroad with gains of $3 billion for shareholders. MidRail's management team includes David Dealy, former Senior V.P. of Transportation at Burlington Northern; Henry Chidgey, a former executive at IC and an instrumental senior operating executive at Southern Pacific, as well as former President, Director and COO of Rail America's predecessor, RailTex, former V.P. and Chief Mechanical Officer at IC and S.V.P and Chief Mechanical Officer at Southern Pacific Transportation Co.; and Ron Lane, former Chief Legal Officer at IC and Partner at Fletcher & Sippel LLC.

Our team is known for doing what many say, "can't be done." We are railroad operators but above all we are 'Precision Railroaders' who look for outside-the-box solutions combined with best-in-class practices.


Our team possesses deep rail industry contacts, valuation tools to isolate critical metrics for operational analysis and financial modeling and reputations to seal transactions with commitments. We have the expertise to close deals with larger railroads and customers (generally inhibited and cautious) and smaller owners or customers (generally wary and wise to operating control issues). Our team's relationships and credibility allow us to fill unexpected or potential capitalization gaps relatively quickly, and we have the critical desire and mobility to be the boots on the ground for any opportunity.

We see a gap in the rail industry between the Class I's, who excel at "hook and haul" over long distances, and short lines, whose local focus and lack of access to capital limit their opportunities; between fragmented rail suppliers/service providers and huge industrial corporations with ample resources that don't know railroading; and between large shippers with their own rail assets and rail logistics systems and experienced railroad operators. We aim to fill that gap.

We invite railroad business owners, railroad executives, and entrepreneurs to become our partners in building long-lasting rail businesses.