Established in 1999, GBRf is Britain’s third-largest rail freight operator. Employing around 900 people and operating more than 1000 trainloads a week, GB Railfreight moves around 23% of Britain’s total rail freight tonnage.

The company has a fleet of more than 180 locomotives and 1500 wagons.

EQT Infrastructure II acquired GBRf from its previous owner Eurotunnel in November 2016. EQT says that over the last two years GBRf has successfully expanded its portfolio by adding additional contracts from both existing and new customers, and significantly increased its share of the British rail freight market, with a focus on driving expansion in the high-growth intermodal sector.

In 2016 GBRf only served one deep-sea port (Felixstowe) but has since expanded its operations to include Southampton and London Gateway.

Under EQT Infrastructure ownership revenues have grown by 60% while the fleet has increased by around 40%.

The transaction is expected to reach financial close in mid-October.