GATX Acquires Wells Fargo's Rail Operating Lease Portfolio

By Global Infrastructure Sherpa · Feb 8, 2026

Acquisition Rail closed Chicago, United States

USD4.2B

Deal Value

GATX Corporation has successfully closed the acquisition of Wells Fargo's rail operating lease portfolio, comprising approximately 101,000 railcars, for a purchase price of $4.2 billion. The acquisition was completed through a joint venture with Brookfield Infrastructure Partners L.P. and its institutional partners. GATX anticipates the transaction will be modestly accretive to earnings per share in the first full year after closing, with more substantial contributions expected in subsequent years. The acquisition expands GATX's North American platform and enhances its ability to serve customers with a more diversified fleet. Separately, Brookfield Infrastructure completed the acquisition of Wells Fargo's rail finance lease portfolio, which includes approximately 22,000 railcars and approximately 400 locomotives.

Deal Analysis

GATX Corporation's acquisition of Wells Fargo's rail operating lease portfolio for $4.2 billion, executed through a joint venture with Brookfield Infrastructure Partners, represents a significant strategic move to expand GATX's North American platform and diversify its fleet. The transaction, involving approximately 101,000 railcars, is expected to be modestly accretive to GATX's earnings per share in the near term, with more substantial contributions anticipated in subsequent years. Separately, Brookfield Infrastructure acquired Wells Fargo's rail finance lease portfolio, further highlighting the strategic realignment of assets within the rail sector. The deal involved notable advisors such as BofA Securities and legal counsel from Skadden, Arps, Slate, Meagher & Flom LLP and Mayer Brown, underscoring the complexity and scale of the transaction. The acquisition allows GATX to enhance its ability to serve customers with a broader range of railcar options, potentially strengthening its competitive position in the market. The involvement of Brookfield Infrastructure Partners, a major player in infrastructure investments, adds further credibility and financial backing to the deal. Wells Fargo's divestiture of its rail portfolios suggests a strategic shift in their asset allocation, possibly focusing on core banking activities. The closing date of January 1, 2026, indicates a potentially lengthy integration process, allowing for careful planning and execution of the asset transfer.

GATX acquires Wells Fargo's rail operating lease portfolio for $4.2 billion.
The acquisition involves approximately 101,000 railcars.
Brookfield Infrastructure Partners participates in the acquisition through a joint venture.
The deal expands GATX's North American platform and diversifies its fleet.

Market Context: The railcar leasing market is a capital-intensive sector, crucial for the transportation of goods across North America. Consolidation within this sector can lead to increased efficiency and economies of scale for the major players.