Rail industry supply company Rail First has been sold to two investment firms for $425 million.
Firm: Gilbert + Tobin (Anchorage 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.”
Lauren is the commercial content writer within Momentum Media’s professional services suite, including Lawyers Weekly, Accountants Daily and HR Leader, focusing primarily on commercial and client content, features and ebooks. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications. Born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling.
