GATX announced it has closed the acquisition of Wells Fargo’s rail operating lease portfolio in a joint venture with Brookfield Infrastructure, completing the transaction on January 1, 2026.
The acquired operating lease portfolio includes approximately 101,000 railcars, with a purchase price of about $4.2 billion reflecting the fleet count at closing. GATX said it expects the deal to be modestly accretive to earnings per share in the first full year after closing, with larger contributions anticipated in subsequent years.
GATX said the acquisition expands its North American rail platform and adds fleet diversity, while preserving financial flexibility to continue investing across its global businesses. The company also said it is positioned to execute a seamless transition and maintain service levels for customers.
Separately, Brookfield Infrastructure completed the acquisition of Wells Fargo’s rail finance lease portfolio, which includes approximately 22,000 railcars and about 400 locomotives. GATX will serve as manager of the railcars held in the joint venture, as well as the finance lease railcars and locomotives owned directly by Brookfield Infrastructure.
GATX said it will provide additional details and issue full-year 2026 guidance during its fourth-quarter 2025 earnings call, with the call date to be announced later in January. The transaction was originally announced on May 29, 2025.
BofA Securities served as sole financial advisor to GATX and Brookfield Infrastructure. Mayer Brown acted as legal counsel to GATX, and Skadden, Arps, Slate, Meagher & Flom served as legal counsel to Brookfield Infrastructure.
KEY QUOTE:
“This marks an important milestone for 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. 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.”
Robert C. Lyons, President and Chief Executive Officer, GATX
