Stonepeak Infrastructure Partners has completed the previously announced transaction to acquire TRAC Intermodal and its subsidiaries from investment funds managed by an affiliate of Fortress Investment Group LLC on March 27, 2020.
The completed transaction “provides Stonepeak with an industry leader to strengthen its infrastructure and transportation market portfolio, while TRAC gains a new sponsor and support for future growth. TRAC’s existing management team will continue to run the business in their current capacities.”
Citi served as exclusive financial advisor to TRAC, and Skadden Arps served as legal advisor to TRAC. Simpson Thacher served as legal advisor to Stonepeak.