Anchorage's acquisition of Rail First effectively revitalized the underperforming company, leading to substantial operational improvements and a successful sale to a consortium of global infrastructure investors.
Target Information
Rail First, formerly known as CF Asia Pacific, is Australia's premier provider of full-service vertically integrated rolling stock leasing and maintenance solutions for the rail industry. As of January 2020, the company was acquired by Anchorage, having previously been a subsidiary of Sasser Family Holdings Inc. Rail First faced significant challenges before the acquisition, characterized by underperformance due to accelerated growth and an aggressive capital asset purchasing program. The company struggled with consistency in contracting principles and yielded poor returns on capital.
Anchorage recognized the potential of Rail First's operations and assets, taking note of the significant operational improvement and growth opportunities available. A strategy to refocus the business towards the intermodal market was implemented, aligning the company's strengths with the growing needs of this resilient sector.
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Industry Overview in Australia
The rail industry in Australia is a vital part of the nation's transport infrastructure, supporting both freight and passenger operations. The sector has witnessed a resurgence in inves
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