Inca Rail S.A.

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Inca Rail S.A. - overview

Established

2009

Location

Cusco, -, Peru

Primary Industry

Rail Transport

About

Inca Rail S. A. is a transportation company specializing in premium train travel services to Machu Picchu, delivering a unique travel experience through the scenic Peruvian Andes. Founded in 2009 in Cusco, Peru, Inca Rail S.


A. operates train services that connect travelers to Machu Picchu. The company has not undergone significant pivots in its business strategy since inception and does not have known subsidiaries. The CEO is Armando Pareja.


The company’s sole deal involved an investment from Carlyle Group in June 2016, with financial terms undisclosed. In April 2026, Grupo Romero Asset Management acquired Inca Rail S. A. from Carlyle Group.


Financial terms were not disclosed. Inca Rail S. A. provides a range of premium train services to Machu Picchu, including The Voyager, The 360, The Prime, The First Class, and The Private train options.


These offerings cater to both individual travelers and groups, ensuring personalized service. The target customers primarily include local and international tourists from Colombia, Mexico, and other countries looking to explore the Sacred Valley and its rich cultural heritage. In the most recent fiscal year 2022, Inca Rail S. A.


reported revenue of USD 22. 36 million and an EBITDA of USD 1. 01 million. Revenue is generated through ticket sales for various train services, with a pricing structure that accommodates different tiers of travel, catering to diverse customer preferences and experiences.


As of the latest deal on June 30, 2016, Inca Rail S. A. aims to use the investment from Carlyle Group to further enhance its service offerings and expand its reach. Future plans include launching new products designed to improve the travel experience, with specific timelines for these initiatives yet to be announced.


The company is also looking to expand into additional markets, though particular regions targeted for this growth have not been specified.


Current Investors

Carlyle Group

Primary Industry

Rail Transport

Sub Industries

Rail Transport

Website

www.incarail.com

Company Stage

Mature - Growth Capital

Total Amount Raised

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Inca Rail S.A. - timeline of key events

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Inca Rail S.A. - financials

Fiscal Year EndedDec 31, 2018Dec 31, 2019Dec 31, 2020Dec 31, 2021Dec 31, 2022
Revenue (USD)108,379,000125,803,000---
% Revenue Growth (YoY)-16.1%---
EBITDA (USD)22,639,00026,941,000---
Operating Income (USD)22,639,00026,941,000---
Operating Margin20.9%21.4%---
% EBITDA Margin20.9%21.4%---
NET Income (USD)5,388,00012,286,000---
% Net Margin5.0%9.8%---

Inca Rail S.A. - deals

Deals TypeDeal StatusTarget (s)Deal DateInvestor(s)Seller(s)Deal size (Mn)Enterprise value (Mn)Post-money valuation (Mn)EBITDA multiple (x)Revenue multiple (x)Lead partner (s)
Secondary BuyoutCompletedInca Rail S.A. -
GrowthCompletedInca Rail S.A. -

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Inca Rail S.A. - employee data

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Inca Rail S.A. - key contacts

NamePositionStart DateEnd DateVcardBio 
Chairman Of The BoardBM

BM Board Member

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