GATX Corp

GATX Corporation, founded in 1898, is a global lessor of transportation assets. The company primarily leases railcars in North America, Europe, and India. Additionally, through GATX Engine Leasing (GEL), its wholly owned aircraft spare engine leasing business, and joint ventures with Rolls-Royce plc, GATX owns one of the largest aircraft spare engine lease portfolios globally. GATX reports its financial results across three main business segments: Rail North America, Rail International, and Engine Leasing. Financial results for its tank container leasing business, Trifleet, are reported in the Other segment. On May 29, 2025, GATX entered into an agreement to acquire approximately 101,000 railcars for approximately $4.2 billion from Wells Fargo Bank, N.A. This transaction closed on January 1, 2026, through a newly formed joint venture called GABX, with Brookfield Infrastructure Partners L.P. GATX initially holds a 30% ownership share in GABX, while Brookfield holds 70%, with GATX having the option to acquire up to 100% of GABX's equity over time. GATX also directly purchased approximately 200 locomotives from Wells Fargo for approximately $30.4 million. GATX will manage the railcars within GABX and the finance lease portfolio directly owned by Brookfield. In anticipation of the closing, on December 31, 2025, GATX contributed equity of $385.3 million to GABX, Brookfield contributed equity of $899.0 million to GABX, and GABX executed a $2.96 billion term loan. GATX has guaranteed GABX's debt financing obligations. During 2025, GABX entered into deal contingent interest rate swaps to hedge its anticipated debt financing exposure.