About Us
Midwest Railcar Corporation was founded in 1998 by current President and CEO Richard “Rich” Murphy as a company specializing in the ownership, leasing, management, and brokerage of freight railcars to shippers, railroads, and other third-party users. Today, Midwest Railcar, LLC is a premium provider of railcar leasing, railcar investment, and fleet management.
Early Years
In our early years, Midwest Railcar grew steadily by seizing untapped opportunities in niche rail markets, building long-term relationships with shippers, railroads, and suppliers, and strategically acquiring railcars to meet the evolving needs of our customers. During this founder-led growth phase, Midwest Railcar built strong strategic partnerships with major banks to secure competitive financing, collaborated with Class I and shortline/regional railroads to align railcar fleet availability with emerging market needs, and forged alliances with other railcar leasing companies to broaden our reach and diversify customer offerings.
From company inception, the team has been adept at identifying underserved markets, such as niche commodities and seasonal demand cycles, and capitalizing on those opportunities with creative lease structures and responsive service. By combining deep industry relationships with a hands-on approach to customer success, Midwest Railcar laid the foundation for long-term, sustainable growth while cementing our reputation as an agile, solutions-driven railcar lessor
Company Growth
Recognizing the opportunity for Midwest Railcar to become a leader in the railcar leasing and management industry, Midwest Railcar made a long-term strategic decision to sell the company to Marubeni Corporation in November 2006. Under this ownership, Midwest Railcar entered a second phase of growth: expanding our railcar footprint, introducing more sophisticated lease structures, and growing our customer base beyond niche markets to serve many of the largest railcar lessees in North America.
The company deepened our presence in new commodity markets, strengthened our network with Class I and regional railroads, and leveraged reinvestment in high-demand railcar types to support evolving shipper needs. Through this period, Midwest Railcar solidified our reputation for reliability, innovation, and customer-focused solutions on a larger scale.
Expansion
In 2025, Midwest Railcar Corporation was acquired by a private, family-owned holding company that acquired the boutique railcar leasing, fleet management, and rail transportation services company Tealinc, LLC in 2023. As part of the overall acquisition, Midwest Railcar and Tealinc integrated their collective railcar portfolios under the Midwest Railcar brand to offer increased scale, service capabilities, and deeper strategic expertise for rail customers across North America.
While continuing to uphold its long-standing mission to be a “first-class leader in the railcar leasing industry, committed to exceeding the expectations of our customers, partners, and stakeholders through quality, performance, and integrity with a relentless pursuit of excellence”, Midwest Railcar’s new ownership structure brings with it a significant infusion of capital, enabling Midwest Railcar to further expand our railcar fleet, enhance service offerings, and deliver even greater value to our customers.
Midwest Railcar Today
Midwest Railcar continues to provide a diverse railcar fleet that includes both our well-established legacy fleet and newly manufactured equipment, offering flexible options for a wide range of customer needs while streamlining the railcar leasing experience for our customers. Midwest Railcar has also enhanced our asset management technology, improving visibility and operational efficiency for lessees. The company owns, leases, and manages a fleet of 35,000+ railcars, offering a broad range of equipment including covered hoppers, gondolas, open-top hoppers, boxcars, flatcars, tank cars, and other specialized railcar types.
Partner With Us
Beyond railcar leasing, Midwest Railcar also offers railcar fleet management, railcar portfolio optimizations, sale-leaseback solutions, and brokerage solutions to help customers improve capital efficiency, increase fleet flexibility, and adapt to changing operational needs. Midwest delivers a high-touch, strategic partnership allowing customers to focus on their core business while entrusting the complexities of railcar fleet ownership, operations, and capital management to a proven industry leader. Midwest Railcar’s combination of top tier equipment, services and personnel allows our customers to focus on their business while leaving the complexities of railcar ownership and management to us.
Please explore our website for more information about the products and services Midwest Railcar has to offer and Contact Us to start a conversation.
