Arcapita related stories
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PE Week Wire: Thursday, July 31, 2008Random Ramblings
- Arcapita buys UKs Freightliner
Arcapita, a Bahrain-headquartered investment firm, has acquired Freightliner Group, a UK rail logistics company, for an undisclosed sum. The vendors were global private equity firm 3i and UK mid-market investor Electra Partners, which backed a management buyout from British Rail in 1996. Freightliner is the UK’s largest inland transporter of deep-sea maritime containers carrying coal, building materials, cement and petroleum, as well as providing infrastructure services for Network Rail. During 3i and Electra’s investment period, the business expanded its staff from 1,095 to 1,828 and moved into Europe with an operational subsidiary in Poland. The transaction was sourced from Arcapita’s London office and involved advisory services from RBC Capital Markets, which also provided financing, and Cameron McKenna. The transaction is expected to close by the end of August. The deal is Arcapita’s first in rail logistics and brings its total value of transactions to date to US$23bn.