US rail group Genesee & Wyoming (G&W) has entered into an agreement to acquire UK and European rail freight operator Freightliner Group from Arcapita, which has been its majority shareholder since 2008.
The change of ownership will not have any impact on the day to day operations of the Group and its subsidiaries. All existing arrangements for each of Freightliner’s operating companies together for all staff will remain unaltered.
“Genesee & Wyoming brings additional investment firepower, extended international reach an 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”, said Russell Mears, Chief Executive Officer of Freightliner Group.
“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, ” stated Jack Hellmann, President and Chief Executive Officer of Genesee & Wyoming.