GB Railfreight has been sold to Infracapital – the unlisted infrastructure equity arm of M&GPrudential – for an undisclosed sum.
The the UK’s third-largest rail freight operator was previously owned by private equity fund EQT’s infrastructure portfolio subsidiary Hector Rail Group.
GB Railfreight MD John Smith said: “We have grown at an incredible rate under EQT. It has been a real pleasure working with EQT over the past three years to become a leading rail freight provider.”
EQT acquired the former UK freight operating subsidiary of Group Eurotunnel in November 2016. The business states that it moves 23 per cent of the UK;s tail cargo, in excess of 1,000 trainloads a week.
“As a business we are now entering an exciting time with Infracapital – I look forward to working closely with our new owners to maintain and surpass our growth ambitions,” `Smith added.
Martin Lennon, head of Infracapital, said: “GB Railfreight has shown strong growth in the UK rail freight sector and expanded into new markets, identifying the business as a leader in rail freight. It not only leads in innovation but its environmental credentials set it apart from competitors. We are delighted to be part of the business’s future growth and success.”
