Vedder Thinking | News Vedder Price Represents ITE Management in the Financing of its $1.75 Billion Acquisition of American Railcar Industries
December 6, 2018
Vedder Price is pleased to announce that it advised ITE Management in connection with the financing of its acquisition of railcar manufacturer American Railcar Industries, Inc. ARI also owns a fleet of nearly 14,000 railcars and a railcar servicing and repair business. The overall acquisition is valued at approximately $1.75 billion, including the assumption of debt.
Global Transportation Finance Shareholders Jeffrey Veber and Michael Draz and Associate Joel Thielen led the team from Vedder Price.
“We were proud to have advised ITE on the financing of this acquisition as they add substantially to their railcar fleet,” said Mr. Draz. “We have a great partnership with ITE, stemming from other successful transactions we have worked on with them, and we value our role in assisting ITE with their long term growth strategy.”