Hector Rail Group has sold GB Railfreight to Infracapital – the unlisted infrastructure equity arm of the M&GPrudential.
The operator, the third largest freight company in the UK, has a turnover of more than £200 million a year and more than 900 staff. It moves around 23% of all UK’s rail freight.
GBRf Managing Director John Smith said: “As a business we are now entering an exciting time with Infracapital – I look forward to working closely with our new owners to maintain and surpass our growth ambitions.”
Martin Lennon, Head of Infracapital, said: “GB Railfreight has shown strong growth in the UK rail freight sector and expanded into new markets, identifying the business as a leader in rail freight. It not only leads in innovation but its environmental credentials set it apart from competitors. We are delighted to be part of the business’s future growth and success.”
Infracapital invests in, builds and manages a diverse infrastructure portfolio. M&GPrudential is a savings and investments business formed in 2017 through the merger of Prudential plc’s UK and Europe savings and insurance operation and M&G, its wholly-owned international investment manager. In March 2018, Prudential plc announced its intention to demerge M&GPrudential and give it a premium listing on the London Stock Exchange. In August 2019, M&GPrudential announced its intention to list its shares under the name M&G plc when it demerges from Prudential plc in the fourth quarter this year.
- For the FULL story, read RAIL 889, published on October 9, and available digitally on Android, iPad and Kindle from October 5.
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