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October 23, 2018 3:15 PM, EDT

Alliant to Acquire Hybrid Transit Systems, Expand Freight Transport Service

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CEDAR RAPIDS, Iowa — Alliant Energy’s transportation subsidiary has announced plans to buy Cedar Rapids-based Hybrid Transit Systems.

Alliant Energy Transportation, a wholly owned subsidiary of Alliant, announced Oct. 22 in news release the company had entered into a purchase agreement with Hybrid Transit. No Alliant Energy utility customer dollars are being used in the purchase, the release notes.

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“We are proud to add Hybrid’s expanded services and experienced professionals to our team. By combining our considerable resources, we can create a more competitive organization with custom supply chain solutions for our shippers,” Alliant Energy Transportation President Kevin Burke said.

The acquisition will add a layer of freight transport to Alliant Energy Transportation, which operates the Cedar Rapids and Iowa City Railway — often referred to as CRANDIC — and IEI Barge Services in East Dubuque, Ill.

Hybrid Transit was founded in 2005 and provides a variety of freight movement services, including over-the-road trucking, rail, air and ocean freight.

“With our combined portfolio of products and services, we’re fueled for growth with the financial strength to better provide long-lasting, seamless solutions. We look forward to this partnership,” Hybrid CEO John Miller said.

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