Jamieson has advised the management team of GB Railfreight on management incentive arrangements as part of the proposed acquisition of the business by EQT, a global Private Equity investor. EQT, indirectly through its investment in Hector Rail group, has submitted an irrevocable offer to acquire GB Railfreight from its existing owner Groupe Eurotunnel with the acquisition being subject to consultation with Groupe Eurotunnel’s staff representative bodies. The proposed acquisition is an integral part of EQT Infrastructure II’s strategy to create a leading independent pan-European rail freight operator
GB Railfreight is the third largest rail freight operator in the UK, and provides a wide range of rail transport solutions and rail services to its customers. The Company’s team of 650 people operates over 1,000 trainloads a week, moving ~15% of UK’s rail freight. GB Railfreight has a fleet of over 130 locomotives and 1,100 wagons, transporting goods for customers including Drax, Network Rail, EDF Energy, MSC UK, Aggregate Industries and Tarmac.