Sumitomo Mitsui Banking’s railcar operating lessor and fleet management business, SMBC Rail Services, completed the acquisition of American Railcar Leasing.

The transaction will produce a full-service lessor of long-lived rolling stock, offering comprehensive rail leasing solutions in North America, with a combined fleet of approximately 50,000 railcars which are positioned to carry a wide variety of commodities and serve a broad range of industries, including energy, steel, agriculture, petrochemical and consumer goods.

SMBC Rail, a North American railcar lessor headquartered in Chicago, will maintain an operating and sales office in St. Charles/St. Peters, MO.

“The highly experienced work force and the combined railcar fleets will allow SMBC Rail to better serve our overall customer base,” said Gene Henneberry, president and CEO of SMBC Rail. “This will be one of the youngest, most efficient rail portfolios in the industry, which will position SMBC as a leader in the rail leasing market for years to come.”

Bank of America Merrill Lynch and SMBC Nikko Securities America acted as exclusive financial advisor and Skadden, Arps, Slate, Meagher & Flom and Chapman and Cutler were legal advisors to SMBC in connection with this transaction.