The completed transaction will provide Stonepeak the chance to strengthen its infrastructure and transportation market portfolio, while TRAC, a major intermodal infrastructure provider, will gain new sponsors and support. The existing management team at TRAC will continue in their current gigs.
Financial terms were not disclosed.
Citi served as the exclusive financial advisor and Skadden Arps served as legal advisor to TRAC. Simpson Thacher served as legal advisor to Stonepeak.