Rand Logistics, a provider of marine bulk freight shipping, ship repair, and logistics services, and a portfolio company of American Industrial Partners, completed the acquisition of the American Steamship Company business of GATX, the global railcar lessor, for $260m. "ASC is thrilled to be a part of the creation of a truly unique company with the scale and flexibility to meet the diverse needs of the Great Lakes region. ASC brings new asset classes to the combined company along with the efficient, highly qualified crews and shoreside personnel that operate them, all making the combined company one of the premier marine transportation companies in North America," David Foster, American Steamship Company President.