GATX Corporation has entered into an agreement to acquire a fleet of up to 3,100 railcars from ECN Capital Corporation for $229 million. The acquisition is expected to close on November 30, 2018, or soon after and is subject to standard closing conditions, including receipt of any required regulatory approvals
The fleet consists predominantly of freight cars with an average age of 7 years.
“This transaction furthers our growth strategy of acquiring high quality railcars at an attractive cost,” said Robert C. Lyons, GATX executive vice president and president, GATX Rail North America.