Media Kit » Try RailPrime™ Today! »
Progressive Railroading
Newsletter Sign Up
Stay updated on news, articles and information for the rail industry



This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.




railPrime
View Current Digital Issue »


RAIL EMPLOYMENT & NOTICES



Rail News Home Railroading Supplier Spotlight

2/5/2021



Rail News: Railroading Supplier Spotlight

Greenbrier forms venture to grow owned rail-car lease fleet


"Today's announcement is a logical bolt-on to Greenbrier's leasing platform and commercial strategy," said Greenbrier CEO and Chair William Furman.
Photo –

advertisement

The Greenbrier Cos. Inc. today announced plans to form GBX Leasing, a new leasing joint venture with The Longwood Group to develop an owned portfolio of leased rail cars primarily to be built by Greenbrier.

Longwood is a Chicago-based transportation equipment advisory and asset management firm.

GBX Leasing will acquire about $200 million worth of newly built and leased rail cars annually from Greenbrier. The initial portfolio for GBX Leasing has been substantially identified from leased rail cars on Greenbrier's balance sheet or in its backlog. The initial equity investment is tax-advantaged, company officials said in a press release.

"Today's announcement is a logical bolt-on to Greenbrier's leasing platform and commercial strategy," said Greenbrier Chief Executive Officer and Chairman William Furman. "The rail car portfolio built by GBX Leasing will create a new annuity stream of tax-advantaged cash flows while reducing Greenbrier's exposure to the new rail-car order and delivery cycle. This move bolsters Greenbrier's value proposition for its customers and shareholders."

Greenbrier will own about 95% of GBX Leasing, with the balance held by Longwood. 

Longwood CEO D. Stephen Menzies will serve as GBX Leasing's chairman and CEO.



Contact Progressive Railroading editorial staff.

More News from 2/5/2021