Private equity firm The Carlyle Group has agreed to sell its rail software and services portfolio business RMI in a deal with GE Transportation.

Private equity firm The Carlyle Group has agreed to sell its rail software and services portfolio business RMI in a deal with GE Transportation.

Originally acquired by Carlyle’s US Growth Partners III in 2007, the purchased business will expand GE Transportation’s Software and Optimization Solutions business.

RMI provides transportation management software for railroad, rail shippers and railcar leasing companies to help improve efficiency and productivity.

In the time between initial investment and sale RMI closed and integrated three acquisitions, including Oasis, RailDOCS and ExpressYard.

Pete Kleifgen, chairman and chief executive officer of RMI, comments: ‘Carlyle’s knowledge of the transportation sector, as well as its global network, helped us to grow our business.

‘They have been a valuable partner since 2007 in helping us take our dedicated customer focus and sophisticated suite of services to other segments in the US and abroad.’

President and chief executive officer of GE Transportation, Lorenzo Simoncelli, says that RMI’s software is complementary to its existing rail portfolio.

He adds: ‘This is incredibly strategic for us and provides a great platform for expanding our software and services capabilities.’