ITE Management L.P. Affiliate Agrees to Acquire SMBC Rail Services
Sumitomo Mitsui Financial Group (collectively, SMBC Group, President and Group CEO Jun Ohta) and ITE Management L.P. (ITE), an investment firm specializing in industrial transportation assets and infrastructure, announced today that an affiliate of ITE has agreed to acquire SMBC Rail Services LLC (SMBC RS) from SMBC Americas Holdings, Inc. (SMBCAH), a member of SMBC Group.
- Sumitomo Mitsui Financial Group (collectively, SMBC Group, President and Group CEO Jun Ohta) and ITE Management L.P. (ITE), an investment firm specializing in industrial transportation assets and infrastructure, announced today that an affiliate of ITE has agreed to acquire SMBC Rail Services LLC (SMBC RS) from SMBC Americas Holdings, Inc. (SMBCAH), a member of SMBC Group.
- AITX is a railcar services solution provider and SMBC RS is a premier, full-service lessor of rolling stock, offering comprehensive rail leasing solutions in North America.
- Over the past ten years, SMBC Group has transformed SMBC RS through ongoing fleet reinvestment, repositioning, organic growth, and acquisition.
- With a decade of continuous investment by SMBC, SMBC RS has maintained its competitiveness in the railcar business.