Touax has announced that its subsidiary Touax Rail Limited has entered into a definitive agreement under which it took over the management of approximately 2,000 freight wagons previously owned by GE Rail Services GmbH, GE Capital Rail Services Limited and GE Capital Rail Limited.
The transaction will strengthen the position of Touax Rail Limited in Europe with a fleet size of approximately 10,500 wagons (platforms).
This transaction consists of freight wagons which are complementary to wagons already managed by Touax, including hopper cars for the transportation of aggregate, flat cars for the transportation of steel coils, intermodal wagons for containers and trailers, open box cars and sliding walls wagons for the transport of palletized and white goods.
Touax Rail Limited will also act as a certified entity in charge of the maintenance.
The wagons have been acquired and financed by a consortium of investors through a special purpose company. Acquisition debt financing was provided by ING Bank N.V. and DVB Bank SE as Mandated Arrangers, ING Bank as Agent and Security Trustee.
“This transaction increases the wagon fleet under Touax management by 23%, establishes its position in the United Kingdom and strengthens continental Europe. The addition of this fleet enables Touax to offer a larger diversification of wagons to better serve transport and logistics operators as well as industrial customers. Our clients will benefit from the operational and technical expertise of an enlarged team comprising TOUAX and former GE Rail Services staff”, stated Fabrice Walewski, Managing Partner of Touax group.
“This continuous diversification of our fleet will enable Touax Rail Ltd to offer a larger range of wagons to better accompany the transport and logistics operators as well as industrial customers. It is in line with the marketing strategy implemented few years ago”, points out Louis Pastré, Business Development and Marketing Director. “Our clients shall benefit from the TOUAX teams operational and technical expertise and can rely on TOUAX services to accompany the freight market demand especially in the UK and in continental Europe as well”.
In this respect, Touax Rail Ltd will be stronger in the UK and Germany, and expects more new wagons in the future.