Ancala Partners is buying Hector Rail, a rail freight operator with operations across Scandinavia and in Germany, from EQT.
The manager’s European Infrastructure Fund II fund is paying an undisclosed amount to buy Hector Rail in a deal expected to be completed in the third quarter of the year.
Hector Rail has been owned by the EQT Infrastructure II fund since 2014.
Founded in 2004, Hector Rail is the largest privately-owned rail freight operator in Scandinavia and one of the few running corridor traffic between Sweden and Germany.
The company has over 100 locomotives and offers sustainable freight, including timber, steel and lime and has agreements with several major customers and suppliers.
Spence Clunie, managing partner, Ancala Partners, said: “Hector Rail delivers an essential service for its customers and plays a key role in the growth of the European economy.”
Claes Scheibe, CEO, Hector Rail, said: “The company supports the growth of the European economy by transporting important goods and materials.
“We continue to see strong demand for our services and look forward to entering the next growth phase with our new owners, Ancala.”
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