Stonepeak Infrastructure Partners Closes Agreement to Acquire TRAC Intermodal

Press Release from TRAC Intermodal

PRINCETON, N.J., March 30, 2020 /PRNewswire/ -- Stonepeak Infrastructure Partners ("Stonepeak") announced that it has completed the previously announced transaction to acquire TRAC Intermodal ("TRAC"), a leading intermodal infrastructure provider, and its subsidiaries from investment funds managed by an affiliate of Fortress Investment Group LLC on March 27, 2020. The completed transaction provides Stonepeak with an industry leader to strengthen its infrastructure and transportation market portfolio, while TRAC gains a new sponsor and support for future growth. TRAC's existing management team will continue to run the business in their current capacities.

TRAC Intermodal Logo (PRNewsFoto/TRAC Intermodal LLC) (PRNewsfoto/TRAC Intermodal)

Citi served as exclusive financial advisor to TRAC and Skadden Arps served as legal advisor to TRAC. Simpson Thacher served as legal advisor to Stonepeak.

About TRAC Intermodal

TRAC Intermodal (www.tracintermodal.com) is North America's leading marine chassis pool manager and equipment provider. TRAC has the largest fleet of marine and specialty chassis in North America and operates an extensive network of facilities. TRAC's subsidiaries offer expert nationwide tire and parts supply through TRAC Tire Services, emergency fleet roadside assistance through FYX, and maintenance and repair services and other depot solutions through TRAC Services.

About Stonepeak Infrastructure Partners

Stonepeak Infrastructure Partners (www.stonepeakpartners.com) is an infrastructure-focused private equity firm headquartered in New York that manages $17.9 billion of assets for its investors (as of September 30, 2019). Stonepeak invests in long-lived, hard-asset businesses and projects that provide essential services to customers, and seeks to actively partner with high-quality management teams, facilitate operational improvements, and provide capital for growth initiatives.

For more information, contact:

Rick Leonard
RCL Communications
203.434.7734
rick@rclcommunications.com

Companies Mentioned in this Press Release:
Business Categories Mentioned in this Press Release: