HS2

17.11.16

GB Railfreight acquisition completed

EQT Infrastructure II has completed its acquisition of GB Railfreight Ltd from Groupe Eurotunnel.

It was announced last month that Group Eurotunnel was considering the offer from EQT for its subsidiary company, which is the third largest freight rail operator in the UK.

The transaction was carried out through an indirectly-owned company within Hector Rail, a Swedish group of companies also owned by EQT.

John Smith, CEO and founder of GB Railfreight, said: “EQT’s business model is very much aligned with GB Railfreight’s, and I look forward to working closely with our new owners to support our continued growth ambitions.”

The company currently employs 650 people and owns over 130 locomotives and 1,100 wagons.

It operates over 1,000 trainloads a week for clients, including Network Rail, Aggregate Industries and Tarmac, making up 15% of the UK’s rail freight.

Bo Lerenius, industrial advisor to EQT and chair of the Hector Rail Group, said: “As one of the UK’s leading rail freight operators, GB Railfreight has proven its strength in the rail industry.

“The focus on innovation and delivery of outstanding customer service are two key factors that make us believe that GB Railfreight is an excellent fit with Hector Rail.”

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