The firms acquired the portfolio through a newly-formed venture, WLR-GBX, to be owned by affiliates of WL Ross for the purpose of acquiring railcar assets in North America and managed by Greenbrier.
WLR-GBX intends to seek additional opportunities to acquire railcar lease portfolios utilizing this structure, Greenbrier said.
Greenbrier, which counts activist investor Carl Icahn as one of its stakeholders, expects the deal to add to its earnings.
Last year, Greenbrier received a $75 million three-year term loan from WL Ross and added founder Wilbur Ross to its board.
"The company is well-positioned for the expected rebound in demand for freight cars and the long-term growth resulting from rail's fuel efficiency compared with motor freight," Ross said in a statement. (Reuters)
