Generali-backed infrastructure investor Infranity is acquiring a majority stake in Scandinavian locomotives lessor Nordic Re-Finance (NRF).
The Infranity Equity Fund is investing an undisclosed amount to acquire the interest in NRF, the owner of the largest fleet of mid-life locomotives in the Nordic region, with a substantial presence in Switzerland.
Romain Le Melinaidre, executive director of equity investments at Infranity, said: “We are very pleased to welcome NRF within the Infranity family. We have been impressed by the quality of its experienced management and the credibility built vis-à-vis top-tier rail clients in the Nordics but also in Europe.
“We believe that our flexible capital, sector and financing expertise will help to unlock new strategic expansion opportunities let alone accelerate some of their sustainable growth plans.”
Sven Engquist, CEO at Nordic Re-Finance, said: “We are excited to partner with Infranity whose investment strategy, approach to partnership and focus on ESG matters are 100% aligned with our ambition at NRF.
“We are convinced that their support will enable the development of our company’s footprint in its domestic markets, but also its sustainable expansion into new strategic segments – solutions and geographies – to respond as relevantly as possible to the challenging changes and the growing demand of the European rail freight market today.”
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