At A Glance
We advised GATX Corporation in a deal to acquire over 100,000 railcars from Wells Fargo for $4.4 billion through a joint venture with Brookfield Infrastructure Partners.
A History in Transportation
For over 125 years, GATX has grown its fleet, and the company now owns and leases tank and freight railcars, commercial aircraft spare engines, and tank containers across the globe.Setting the Wheels in Motion
In 2014, relying on a decades-long client relationship with the firm, GATX turned to Mayer Brown for help in acquiring 18,500 boxcars for $340 million.Fast Track to Fleet Diversification
GATX again turned to Mayer Brown to advise the company on its largest acquisition to date: 105,000 railcars for $4.4 billion. These railcars, acquired from Wells Fargo, include gravity covered hoppers, pneumatic and specialty covered hoppers, open-top cars, intermodal, boxcars, and tank cars.Full Steam Ahead
The deal not only enhances GATX’s fleet diversification across rail car types, but also across end markets and customers, allowing the company to build on GATX Rail North America’s platform.Conducting a Joint Venture
The initial equity ownership in the joint venture is shared between GATX, with 30%, and Brookfield, with 70%. Over time, GATX will have the opportunity to acquire up to 100% of the joint venture’s assets.
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The number of railcars in GATX’s fleet in 1898105,000
The number of railcars acquired from Wells Fargo
With this acquisition, we not only expand our North American platform and enhance our ability to serve customers with a more diversified fleet, but we also maintain the financial flexibility to continue pursuing investment opportunities across our global businesses.
Robert C. Lyons, President and CEO of GATX