EQT to sell Hector Rail to Ancala

Ancala will acquire the rail business through its European Infrastructure Fund II.

EQT Infrastructure II in 2014 acquired Hector Rail from the Höegh family, founders Mats Nyblom and Ole Kjörrefjord, and minority owners. The company had 190 staff at the time, operating in Sweden, Norway, Denmark and Germany. The company's revenues in 2013 amounted to about SEK 630m (€68m) in 2013.

According to EQT, during its six-year holding period, Hector Rail grew organically by entering new segments, geographies and customers, with an 80% growth in both revenues and the fleet.

Stig Kyster-Hansen, managing director of Hector Rail, said: "Under EQT's ownership, we have in a short period of time been able to build a strong and scalable platform in Germany. We see great potential for further growth in this market." 

Company
Founded in 2004 and headquartered in Stockholm, Hector Rail is a private rail freight operator in Scandinavia with significant operations in Germany. It transports essential goods for a wide range of customers and operates a growing domestic platform in Germany, the largest rail freight market in Europe, from which it focuses on attractive niche segments, such as energy and intermodal flows.

The company has a fleet of 100 locomotives, and employs 400 people, including approximately 250 train drivers.

People
EQT – Masoud Homayoun (partner).
Hector Rail – Claes Scheibe, Stig Kyster-Hansen (managing directors).

Advisers
Vendor – Deutsche Bank (financial due diligence); Advokatfirman Vinge (legal).

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