GATX, Brookfield complete purchase of Wells Fargo rail leasing business
Railcar lessor GATX and investment firm Brookfield have completed their purchase of Wells Fargo’s rail leasing business, a deal that shifts a large fleet of rail equipment to new ownership.
Under the transaction, a joint venture between GATX and Brookfield will purchase approximately 105,000 railcars for $4.4 billion.
Separately, Brookfield will acquire another portion of the business: the Wells Fargo (NYSE: WFC) rail portfolio of approximately 23,000 railcars. Brookfield is also the owner of short line rail operator Genesee & Wyoming.
For trucking and intermodal operations, railcar leasing matters because leased fleets help determine how much rail capacity is available, what types of equipment are in service, and how quickly shippers can secure cars for moving freight. When ownership changes hands, the day-to-day movement of freight may not change overnight, but the companies managing the equipment—and setting leasing terms—do.
- What happened: GATX and Brookfield completed the acquisition of Wells Fargo’s rail leasing business.
- Scale: About 105,000 cars in the joint venture purchase, plus about 23,000 cars acquired separately by Brookfield.
- Why it matters: Railcar availability and management can influence intermodal and rail freight flows that often connect with truckload and drayage moves.
The deal also highlights the role of large investors and specialized lessors in controlling major pools of freight equipment—an important piece of the broader transportation network that trucking relies on when freight shifts between rail and road.