Vedder Price

Vedder Thinking | News Vedder Price Advises ITE Management on $550M Acquisition of The Andersons, Inc. Railcar Leasing Business

Press Release

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Vedder Price is pleased to announce its role in advising ITE Management L.P. (ITE) in connection with the acquisition of the rail leasing business of The Andersons, Inc., by ITE affiliate American Industrial Transport, Inc. (AITX) for $550 million.

According to its press release, the acquisition will allow AITX and its affiliates to offer customers a leasing fleet of approximately 60,000 railcars across a diverse offering of car-types, equipment lifecycles, commodities and industries-services.

The Vedder Price team was led by Jeffrey T. Veber, Global Transportation Finance Shareholder, Vice Chair of the firm’s Executive Committee and Member of the firm’s Board of Directors, and Michael E. Draz, Global Transportation Finance Shareholder, and was supported by Steven R. Berger, Joel R. Thielen, Brian D. Wendt, Daniel L. Spivey and Zackary G. Theo.

“We are pleased to have served as legal counsel for ITE to help expand its AITX railcar leasing platform,” said Mr. Draz. “We’ve been fortunate to partner with ITE on many successful transactions in the past, which is a testament to the depth of our Global Transportation Finance team and our continued partnership.”




Professionals



Steven R. Berger

Shareholder



Michael E. Draz

Shareholder



Daniel L. Spivey

Associate



Joel R. Thielen

Associate



Zackary G. Theo

Associate



Jeffrey T. Veber

Shareholder



Brian D. Wendt

Associate