DALLAS--(BUSINESS WIRE)-- Trinity Industries, Inc. (NYSE:TRN) today announced that its wholly-owned subsidiary TrinityRail Asset Management Company, LLC (“TRAMCo”) acted as an advisor and arranger on ECN Capital Corp.’s (“ECN Capital”) sale of a portfolio of approximately 9,950 leased railcars. TRAMCo also acted as advisor to Napier Park Global Capital (US) LP (“Napier Park”), the investment manager of the purchaser of substantially all of this portfolio. TRAMCo earned fees in its capacity as advisor and arranger.
“We were very pleased to facilitate the sale of ECN Capital’s leased railcar portfolio,” said D. Stephen Menzies, Trinity Industries, Inc. Senior Vice President and TrinityRail Group President. “Through our comprehensive knowledge of this railcar portfolio and reputation as a premier provider of railcar services to institutional investors, we were successful in bringing two of our strategic partners together in this transaction, ECN Capital and Napier Park.”
Mr. Menzies added, “We will continue to service the leased railcars under the new ownership, maintaining a seamless transition for the underlying lessees and our strategic partners. In addition, we are pleased to become the manager on an additional portfolio of approximately 3,600 leased railcars which were previously managed by ECN Capital, bringing TrinityRail’s owned and managed fleet to approximately 112,000 railcars.”
Trinity Industries, Inc., headquartered in Dallas, Texas, is a diversified industrial company that owns complementary market-leading businesses providing products and services to the energy, chemical, agriculture, transportation, and construction sectors, among others. Trinity reports its financial results in five principal business segments: the Rail Group, the Railcar Leasing and Management Services Group, the Inland Barge Group, the Construction Products Group, and the Energy Equipment Group. For more information, visit: www.trin.net.
TrinityRail Asset Management Company, LLC, a wholly-owned subsidiary of Trinity Industries, Inc., provides advisory, portfolio development, and asset management services to investors in portfolios of leased railcars.
Some statements in this release, which are not historical facts, are “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about Trinity's estimates, expectations, beliefs, intentions or strategies for the future, and the assumptions underlying these forward-looking statements. Trinity uses the words “anticipates,” “assumes,” “believes,” “estimates,” “expects,” “intends,” “forecasts,” “may,” “will,” “should,” “guidance,” “outlook,” and similar expressions to identify these forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from historical experience or our present expectations. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” and “Forward-Looking Statements” in the Company's Annual Report on Form 10-K for the most recent fiscal year.
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Trinity Industries, Inc.
Preston Bass, 214-631-4420
Director, Investor Relations
Jack Todd, 214-589-8909
Vice President, Public Affairs
Source: Trinity Industries, Inc.