It has been announced that Genesee & Wyoming Inc. (G&W) has entered into an agreement to acquire Freightliner Group from Arcapita, who have been majority shareholders since 2008.
Freightliner Group is a successful and highly regarded business with a reputation for high quality service, reliability and innovation.
This agreement will be mutually beneficial for both parties, and Freightliner Group will continue to invest in new technologies and enhance international activities.
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.
Russell Mears, Chief Executive Officer of Freightliner Group said, “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.”
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.
For Freightliner’s 2,500 employees, we look forward to working together to leverage the strength and skills of our global employee base, deploying best practices from both G&W and Freightliner to enhance the safety and quality of our rail services worldwide. For Freightliner’s customers, we are committed to deliver the same locally focused and responsive rail service that is the hallmark of both Freightliner and G&W, and we are excited about the opportunity to expand our global customer relationships going forward.”