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Anchorage Capital sells Rail First for $425m

Rail industry supply company Rail First has been sold to two investment firms for $425 million.

user iconLauren Croft 14 September 2022 Big Law
Anchorage Capital sells Rail First for $425m
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Firm: Gilbert + Tobin (Anchorage Capital Partners)

Deal: G+T has advised Anchorage Capital Partners on the sale of Rail First Asset Management (Rail First) to a consortium comprising Amber Infrastructure and DIF Capital Partners.


Value: $425 million

Area: Merger and acquisition, corporate

Key players: Corporate advisory partner Peter Cook led the matter from G+T, together with lawyers Ilona Hunnisett, Matthew Coe, and Rebecca Ryan. The corporate team was also supported by specialists throughout the firm.

Deal significance: Rail First operates over 1,300 locomotives and wagons and has two strategically located workshops in Islington (South Australia) and Goulburn (NSW), which service a blue-chip customer base that is primarily focused on the intermodal market. The company was bought by Anchorage in 2019 for $200 million.

Speaking about the transaction, Mr Cook said: “It was a real privilege for our team to advise and work alongside the Anchorage Capital Partners and Rail First teams in relation to the divestment of such a high-quality asset and to assist them in delivering an outstanding result for all involved.”