SWITZERLAND: The management team and funds advised by Oaktree Capital Management have invested in MFD Rail, a start-up which aims to become one of Europe’s leading intermodal wagon leasing company over the next few years.
MFD Rail says building a business from scratch ‘without having to reorganise outdated structures’ will enable it to focus on offering tailor-made and cost-efficient services for the intermodal market.
The COO is Detlef Schlickelmann, whose previous roles have included COO and CTO at Wascosa and Technical Manager at Ermewa, and the CEO is Fabian Stadler who was also at Wascosa. Chief Sales Officer Wolfram Bahle was at Railpool, and CFO Markus Basler has previously had roles at Wascosa and AAE.
KfW IPEX-Bank was sole arranger, facility agent, security agent and hedging bank for the financing, which comprises a facility totalling €105m plus an additional accordion facility of up to €100m.
‘MFD Rail is very proud of the financing partnership we have developed with KfW IPEX-Bank and Oaktree, which is one of the most prestigious partners in the area of lending and private equity’, said Basler. ‘Both companies also have in-depth knowledge of the railway industry. As a start-up company, we are therefore extremely well capitalised, underscoring not only our ambitious growth plans, but also making them possible in the first place.’
‘We have supported the founders of MFD Rail from the outset and are very pleased to be able to play a leading role in this financing through our early support’, said Andreas Ufer, member of the management board of KfW IPEX-Bank. ‘Together with our partners, we are promoting freight transport’s shift to rail, and are thus providing considerable support for climate-friendly transport infrastructure.’
