A Mayer Brown team represented First State Investments (FSI), a leading global investor in infrastructure, in its agreement with SteelRiver Infrastructure Partners, an independent investment manager, to acquire 100 percent of the equity of Patriot Rail and Ports, which operates a portfolio of 12 short-line freight railroads with more than 585 track miles across 14 states in the US.

As part of the acquisition strategy, FSI has partnered with MidRail LLC, a team of experienced rail industry veterans focused on originating, acquiring, and developing rail assets and operations in North America.

The team was led by Corporate & Securities partners Jason Wagenmaker and William Kucera (both Chicago) and included: Banking & Finance – partners Mae Rogers and George Miller (both NY); Employment & Benefits – partner Stephanie Vasconcellos (Chicago); Tax Transactions & Consulting – partner Jason Bazar (NY) and associate Chris Odell (Chicago); Real Estate – partner David Saye (Charlotte); and Corporate & Securities – associates Tim Gordon, Terry Brennan and Cade Cross (all Chicago).