USA: Wagon leasing company Riverside Rail has been formed by affiliates of insurance investor Allstate, private investment business Duchossois Capital Management and Henry Crown & Co company CC Industries. Riverside Rail has acquired an initial fleet of 2 032 coal, metals, van, covered hopper and centre-beam wagons, and anticipates expanding the fleet in the future.

Announcing the formation of the company on March 4, the investors said they believe wagon leasing is an attractive long-term investment. They aim to build a full-service leasing and management company.

BMO Harris Bank led a credit facility for the wagon acquisition, and Vedder Price served as legal counsel.