First Union Rail, a wholly owned subsidiary of Wells Fargo, announced the closing of its acquisition of Long Haul Holding, the parent company of Helm Financial, a San Francisco-based railcar and locomotive operating lease company.

This acquisition is a logical fit to Wells Fargo’s existing rail equipment leasing business and reflects its ongoing commitment to grow its fleet of equipment to meet the evolving needs of its customers. Helm provides railcar and locomotive operating leases of railcars and locomotives to its customer base in the U.S., Canada and Mexico.

Helm’s customers include railroads and shippers, many of which are already customers of First Union Rail. The First Union Rail team is delighted to expand these existing relationships and is excited to welcome many new customers to First Union Rail.

First Union Rail operates one of the largest and most diverse railcar leasing companies in North America.