SMBC RAIL SERVICES ANNOUNCES THE COMPLETION of the ACQUISITION AMERICAN RAILCAR LEASING LLC
New York – June 1, 2017 — Sumitomo Mitsui Banking Corp (SMBC) announced that its railcar operating lessor and fleet management business, SMBC Rail Services LLC (SMBC Rail), completed the acquisition of American Railcar Leasing LLC today, 6.1.17.
The transaction, which will produce a premier full service lessor of long-lived rolling stock, offering comprehensive rail leasing solutions in North America, with a combined fleet of approximately 50,000+ railcars that are positioned to carry a wide variety of commodities and serve a broad range of industries, including energy, steel, agriculture, petrochemical and consumer goods.
SMBC Rail, a leading North American Railcar Lessor, Headquartered in Chicago IL, will maintain an operating and sales office in St. Charles / St. Peters Mo. “The highly experienced work force and the combined railcar fleets will allow SMBC Rail to better serve our overall customer base” said, Gene Henneberry, President and Chief Executive Officer of SMBC Rail. “This will be one of the youngest, most efficient rail portfolios in the industry, which will position SMBC as a leader in the rail leasing market for years to come”.
About Sumitomo Mitsui Banking Corporation
SMBC is headquartered in Tokyo, Japan, and is a wholly-owned subsidiary of Sumitomo Mitsui Financial Group, Inc. (“SMFG”). Listed on the Tokyo, Nagoya and New York (via ADRs) stock exchanges; SMFG has a market capitalization of approximately US$48 billion. SMFG is a leading financial institution in Japan as well as a global provider of financial services.
Bank of America Merrill Lynch and SMBC Nikko Securities America, Inc. acted as exclusive financial advisor and Skadden, Arps, Slate, Meagher & Flom, LLP and Chapman and Cutler LLP legal advisor to SMBC in connection with this transaction.