CHICAGO — GATX Corp. has completed acquisition of Wells Fargo’s rail leasing operation in a joint venture with Brookfield Infrastructure Partners.
The deal closed on Jan. 1, GATX said today (Jan. 5). The $4.2 billion acquisition covers approximately 101,000 railcars.
“This marks an important milestone for GATX,” GATX CEO Robert C. Lyons said in a press release. “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. I believe the acquisition positions GATX for continued growth and value creation for our shareholders.”
The company anticipates that the transaction will provide a modest increase to earnings per share in the first year after closing, with more substantial increases in subsequent years.
Separately, Brookfield Infrastructure completed acquisition of the Wells Fargo rail finance lease portfolio of approximately 22,000 railcars and 400 locomotives. GATX will serve as the manager of this equipment as well as that acquired in the joint venture.
The acquisition was announced last May [see “Wells Fargo to sell …,” Trains.com, May 30, 2025].
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