Genesee & Wyoming Inc. (G&W) has entered into an agreement to acquire Freightliner Group from Arcapita, who have been majority shareholders since 2008.
The change of ownership will not have any impact on the day to day operations of the group and its subsidiaries.
Russell Mears, Chief Executive Officer of Freightliner Group, said: “Genesee & Wyoming brings additional investment firepower, extended international reach and increased below? rail infrastructure expertise to add to the existing strengths of the Freightliner Group. Their commitment to safety and service quality in all activities also mirrors our own values."
Jack Hellmann, President and Chief Executive Officer of Genesee & Wyoming Inc., commented,
“The acquisition of Freightliner is an excellent strategic fit for G&W. We are excited to be adding a world class intermodal and heavy haul franchise in the United Kingdom that will be the foundation of G&W’s European Region. Further, the overlap of our respective rail businesses in Australia and the Netherlands will unlock operating synergies and expand our presence in each of those markets. We are pleased to be joined by a highly talented management team who have a long track record of success in building Freightliner over the past two decades. Working together, we expect to build the existing business and also unlock a range of attractive rail investment opportunities worldwide.”
Adapted from press release by Katherine Guenioui