ITE-backed American Industrial Transport to acquire the rail leasing business of The Andersons for $550m.

ITE-backed American Industrial Transport, which provides solutions to freight shipping customers across railcar leasing, repair, and data, agreed to acquire the rail leasing business of The Andersons, a diversified company rooted in agriculture, conducting business across North America in the commodity trading, ethanol, and plant nutrient sectors, for $550m. "We are incredibly pleased to expand the breadth and depth of our railcar leasing platform and the services AITX can provide. AITX expects to hire a majority of The Andersons employees in the railcar leasing business, and we are pleased to welcome aboard our new team members," Jason Koenig, ITE Managing Partner.