ITE Management, in partnership with RESIDCO, has acquired C.K. Industries’ North American railcar and related assets; terms of the deal were not disclosed.
Lake Zurich, Ill.-based C.K. Industries is a railcar owner and lessor with affiliates in Europe and North America. “Servicing mid-to-long-term railcar lease packages, its highly productive, well-maintained leasing fleet offers full-service and net leases that directly complements ITE’s existing strategy,” ITE reported on Dec. 1.
This is the second acquisition of the year for ITE, an investment firm specializing in transportation and industrial transportation assets and companies. In August, in partnership with its owned-affiliate AITX (American Industrial Transport, Inc.), ITE acquired more than 20,000 railcars from The Andersons, Inc.