GATX Corporation and Brookfield Infrastructure Complete Acquisition of Wells Fargo’s Rail Assets

01/05/2026

GATX Corporation and Brookfield Infrastructure Complete Acquisition of Wells Fargo’s Rail Assets

January 5, 2026

  • Transaction significantly expands GATX’s scale and further diversifies its North American railcar portfolio

CHICAGO--(BUSINESS WIRE)-- GATX Corporation (NYSE: GATX) today announced the successful closing of the acquisition of Wells Fargo’s rail operating lease portfolio on January 1, 2026. The acquisition was completed through a joint venture with Brookfield Infrastructure Partners L.P. (“BIP”) (NYSE: BIP; TSX: BIP.UN) and its institutional partners (collectively, “Brookfield Infrastructure”). Wells Fargo’s rail operating lease portfolio comprised approximately 101,000 railcars and the purchase price was approximately $4.2 billion, reflecting the fleet count at closing. GATX anticipates that the transaction will be modestly accretive to earnings per share in the first full year after closing, with more substantial contributions expected in subsequent years.

“This marks an important milestone for GATX,” said Robert C. Lyons, president and chief executive officer of GATX. “With this acquisition, we not only expand our North American platform and enhance our ability to serve customers with a more diversified fleet, but we also maintain the financial flexibility to continue pursuing investment opportunities across our global businesses. I believe the acquisition positions GATX for continued growth and value creation for our shareholders.”

Mr. Lyons added, “I want to thank our partner and employees for their tireless efforts and support throughout the process. We are well positioned to ensure a seamless transition while delivering the high level of service our customers expect.”

Separately, Brookfield Infrastructure completed the acquisition of Wells Fargo’s rail finance lease portfolio, which includes approximately 22,000 railcars and approximately 400 locomotives. GATX will serve as manager of the railcars in the joint venture, as well as the finance lease railcars and locomotives directly owned by Brookfield Infrastructure.