Anchorage Acquires CF Asia Pacific
Anchorage Capital Partners (“ACP”) is pleased to announce it has completed the acquisition of CF Asia Pacific (“CFAP”).
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CFAP is the leading full-service rail leasing business in Australia and the fourth largest owner of assets on the Defined Interstate Rail Network. The business has a dominant market position in the rail leasing market and a growing locomotive and wagon maintenance operation.
CFAP has been impacted by the drought in Australia as well as the slowdown in mining activity. This presented ACP with an opportunity to leverage CFAP’s market position and high-quality asset base to increase utilisation as market conditions improve and significant committed infrastructure projects come online, including multi-modal terminals. ACP will also apply its best practice process and operational efficiency program to drive sustainable earnings growth.
CFAP will be led by Chief Executive Officer, Mark Kirkpatrick.
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