GATX Brookfield acquire Wells Fargo fleets as Wells Fargo completes the sale of its wagon and locomotive leasing assets in the United States, part of the bank’s effort to simplify its businesses and focus on products and services that are core to its clients, as reported by Railway Gazette.

GATX Brookfield acquire Wells Fargo fleets — $4.2bn close
GATX Brookfield acquire Wells Fargo fleets — $4.2bn close

This is reported by the railway transport news portal Railway Supply.

Deal structure: operating leases and a finance lease portfolio

The transaction splits into two pieces. A joint venture between GATX Corp and Brookfield Infrastructure Partners completed a $4.2bn acquisition of around 101,000 wagons used by customers under operating leases, as set out in the GATX Corporation and Brookfield Infrastructure closing statement. Separately, Brookfield Infrastructure completed the acquisition of Wells Fargo’s finance lease portfolio of around 22,000 wagons and 400 locomotives. GATX has a 30% stake in the joint venture, with the option to acquire 100% over time, and it will serve as manager of both fleets.

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GATX on the milestone and North American expansion

Completion of the transaction on January 1 “marks an important milestone for GATX,” said GATX President & CEO Robert C Lyons. He added that the acquisition expands the company’s North American platform, enhances its ability to serve customers with a more diversified fleet, and keeps financial flexibility in place to continue pursuing investment opportunities across its global businesses.

Advisers and timeline

The deal was first announced in May 2025, as previously covered by Railway Supply. Wells Fargo Securities served as Wells Fargo’s exclusive financial adviser, with Simpson Thacher & Bartlett acting as legal counsel. BofA Securities advised GATX and Brookfield Infrastructure financially. Mayer Brown was legal counsel to GATX, and Skadden, Arps, Slate, Meagher & Flom advised Brookfield Infrastructure.

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