FTAI Infrastructure to acquire Wheeling & Lake Erie Railway for $1.05bn.

FTAI Infrastructure, a company that invests in rail, ports, terminals, and power and gas assets, agreed to acquire Wheeling & Lake Erie Railway, a transportation company offering rail transportation services, for $1.05bn. “Growing our freight rail platform has been a key focus for FIP, and we are thrilled to have this opportunity to combine with the W&LE. We believe the W&LE is an excellent candidate for a combination with Transtar, adding scale, diversification and network reach. Together, Transtar and the W&LE have identified several growth opportunities and operating efficiencies that we expect to drive substantial growth in revenue and EBITDA. As a result of these opportunities, we expect our combined freight rail segment to generate approximately $200 million of annual Adjusted EBITDA by the end of 2026,” Ken Nicholson, FIP CEO.