The largest privately-owned rail operator in Scandinavia – Hector Rail – changes its owner after 6 years. In a month or two, a transaction selling the company from EQT to Ancala European Infrastructure Fund II will be finalized.
A London-based infrastructure investment manager, Ancala Partners LLP (Ancala) is acquiring Hector Rail via its Ancala European Infrastructure Fund II (Ancala Infra II). The rail operator was in the hands of the Swedish investment company EQT AB through the EQT Infrastructure II fund (EQT Infra II) since 2014.
EQT also bought UK freight operator GB Railfreight in 2016, selling it three years later to Infracapital. Now, it is a UK investment firm that invests on Swedish ground.
And not Swedish ground only. Hector Rail is one of the few licensed operators connecting Scandinavia with Germany directly. With 100 locomotives and 16 years of history, their most recent fleet renewal was the purchase of 20 Siemens Vectron locomotives with a last-mile diesel module and remote control on board. Last of them have been delivered to Sweden in summer 2018.
Ancala is a newbie in the rail business. Its portfolio at the moment consists mostly of energy & utility companies.