Pacific Imperial Railroad transferred majority ownership to Conatus Capital Group, Inc. Oct. 28, according to a news release.
Arturo Alemany steps in as the company’s new CEO and president of Pacific Imperial Railroad. He was formerly the principal of Conatus.
Conatus Capital Group Inc. is a New York-based investment company that acquired majority interest in Pacific Imperial Railroad. Alemany replaces Donald Stoecklein as CEO of Pacific Imperial. Stoecklein will remain chief compliance officer for the company.
Alemany has more than 25 years of international business development experience. He is president and CEO of Alemany and Associates, a company providing expertise in international contract negotiations, and has 10 years of railroad experience with Amtrak.
With this new leadership, Conatus and Alemany plan to reconstruct and develop the Desert Line for the Cali-Baja Mega Region, with the help of the South County EDC, San Diego Chamber of Commerce and the San Diego Metropolitan Transit System. The Desert Line is the only rail line connecting with the rail system in Baja and runs adjacent to about 650 manufacturing facilities, approximately 14 miles south of the U.S.-Mexico international border.
Conatus’ acquisition of its stake in Pacific Imperial Railroad follows the memorandum of understanding signed between Pacific Imperial and Baja California Railroad this past June.
These two companies, following the reopening of the Desert Line, will be the only railroad freight service providers serving the Tijuana-Tecate region of Baja California, Mexico and eastern San Diego County, as a result of a 99-year lease signed with San Diego and Arizona Railroad and the San Diego Metropolitan Transit System.