Alumnus Ainsworth to be inducted into Alabama Business Hall of Fame

Auburn alumnus and accomplished entrepreneur Billy Ainsworth, ’78 marketing, has been named to the Alabama Business Hall of Fame as part of its Class of 2026 — an honor recognizing his lasting impact on business and leadership across the state. Ainsworth will be inducted alongside six fellow honorees during a ceremony Nov. 12 in Birmingham.

Established in 1973, the Alabama Business Hall of Fame honors individuals whose business contributions have elevated the state of Alabama’s reputation and influence.

Ainsworth began his professional career in the national scrap brokerage business, eventually working for three national brokerage firms.

In 1983, he founded Steel Processing Services, serving as president and CEO and setting in motion a period of steady growth that would shape the future of the railroad services industry. What began as a single enterprise quickly evolved into a diversified organization spanning recycling and rail operations.

When the company was acquired in 1993 and became Progress Rail Services, Ainsworth remained at the helm, guiding its expansion with a consistent vision and an ability to navigate change.

Over the next two decades, Ainsworth led the organization through multiple ownership transitions, each time strengthening its position and broadening its reach. In 2000, as part of a larger utility merger, the Securities and Exchange Commission required the divestiture of Progress Rail, ultimately paving the way for new investment and continued growth. In 2005, Progress Rail’s management team partnered with One Equity Partners to acquire the company, before it was purchased by Caterpillar just over a year later.

Throughout these changes, Ainsworth’s leadership remained constant. Under his direction, Progress Rail grew into one of the largest global suppliers in the railroad industry, expanding to approximately 150 locations and 8,000 employees worldwide – all while maintaining its headquarters in Albertville, Ala. His ability to balance growth with stability allowed the company to thrive across shifting business landscapes.

Following Caterpillar’s acquisition, Ainsworth assumed increasingly senior leadership roles, ultimately serving as group president of the company’s Energy & Transportation segment. He retired in 2020 after a career defined by resilience, thoughtful leadership and an enduring impact on both industry and community.

“Billy’s career is a testament to steady leadership and perseverance,” said Jimmy Sanford, Auburn University Board of Trustees President Pro Tempore. “He has built and guided organizations through change while never losing sight of the people and communities they serve. His impact is both far-reaching and deeply rooted in Alabama.”

Ainsworth continues to invest in that impact through service, including his appointment to the Auburn University Board of Trustees in 2023, along with roles supporting the Harbert College of Business and the McCrary Institute. He remains active in corporate and civic leadership, reflecting a lifelong commitment to giving back.

“We extend our congratulations to Billy on being selected for the Alabama Business Hall of Fame,” said Harbert College of Business Dean Jennifer Mueller-Phillips. “Our college and the whole of campus have benefitted from his servant leadership, wisdom and generosity.”

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Learn more about the class of 2026 Business Hall of Fame inductees