A Lebanon, Ohio-based tourist railroad that operates from a station in downtown Lebanon has been bought by a local investor group.

The former Lebanon and Turtlecreek Railway has been renamed the Lebanon Mason Monroe Railroad, or LM&M, according to a Monday news release. The railroad operates a 1950s-era diesel locomotive and coaches built in the 1930s. It runs on 14 miles of track and has access to track owned by the Indiana & Ohio Railway, also a passenger line for tourists.

The purchase price for the railroad was not disclosed. The purchaser, Norwood-based Cincinnati Railway Co., is headed by retired corporate turnaround consultant Ed Buyniski. Other partners include Tom McOwen, owner of the Indiana & Ohio Railway; Brian Collins, CEO of Commonwealth Inc.; John Hamm, a retired Procter & Gamble executive; Karen Hamm, executive vice president of Commonwealth Inc.; and Curt Potter, a retired Procter & Gamble executive living in New Hampshire.

The investors said they plan improvements to the railroad and its equipment, and will continue themed weekend outings in the fall, spring and summer.

The Cincinnati Railway Co. also provides chartered long-distance train trips and logistical services for private railcars.