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ITE Management LP has purchased the North American rail-car and related assets of C.K. Industries.
The acquisition benefits ITE’s and American Industrial Transport Inc.’s (AITX) rail-car holdings, ITE officials said in a press release.
Terms of the transaction were not disclosed.
C.K. Industries provides various rail-car solutions, including mid- to long-term car lease packages. It is a private company with leasing affiliates in Europe and North America. ITE acquired the assets in partnership with RESIDCO.
The addition of C.K. Industries marks the second corporate acquisition this year for ITE Management. In August, in partnership with its owned-affiliate AITX, ITE acquired over 20,000 rail cars from The Andersons Inc.