DARIEN, Conn. — Genesee & Wyoming Inc. has been sold to Brookfield Infrastructure in a transaction valued at approximately $8.4 billion, and will become a privately held company.
G&W owns a portfolio of 120 short line railroads, predominantly in North America, with operations in Europe and Australia. Through its subsidiaries worldwide, the business provides transportation infrastructure services over more than 26,000 kilometers of track, providing access to its well-diversified customer base.
“We believe this transaction is an excellent outcome for all G&W stakeholders,” said Jack Hellmann, G&W Chairman and Chief Executive Officer. “For our current stockholders, the sale price realizes significant value and represents a 39.5% premium to our March 8 th share price. And for long-term investors who have owned our shares for the past two decades, the sale price represents a return of more than 5,400%.”
Sam Pollock, Chief Executive Officer of Brookfield Infrastructure, said “This is a rare opportunity to acquire a large-scale transport infrastructure business in North America. G&W will be a significant addition to our global rail platform and will expand our presence in this sector to four continents. G&W provides critical transportation services to more than 3,000 customers, and its cash flows have proven to be highly resilient over many years. Brookfield Infrastructure is well suited to work with the company to continue to improve the business, given our significant experience owning and operating rail, ports and other large scale, transportation infrastructure businesses.”
G&W owns or leases 627 miles of rail in Pennsylvania, including in Bradford.
Interchanges include CSX (Buffalo, N.Y.; Erie, Pa. and New Castle, Pa.); Norfolk Southern (Buffalo, N.Y.; Erie, Pa.; Driftwood, Pa.; Freeport, Pa. and Pittsburgh, Pa.); and Western New York & Pennsylvania Railroad (East Salamanca, N.Y.).
