The Freightliner Group, one of the most successful management buy-outs of the rail privatisation process, has been acquired by Genesee & Wyoming Inc (G&W) of the USA.
The American railroad company, which started as a 14-mile track operation in upstate New York in 1899, has extensive international holdings and wants to deepen its involvement in Europe. It will acquire Freightliner from Arcapita, which has been the majority shareholder since 2008.
All existing arrangements for Freightliner’s operating companies and their staff will remain unaltered.
Says Russell Mears, chief executive officer of Freightliner Group, ‘Genesee & Wyoming brings additional investment firepower, extended international reach and increased 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.’
G&W owns short line and regional freight railways in the United States, Australia, Canada, the Netherlands and Belgium. In Australia G&W operates the 1,400-mile Tarcoola to Darwin rail line, which links the Port of Darwin with the interstate rail network in South Australia.