French locomotive leasing firm Akiem has acquired Germany-based mgw Service, a company involved in electric and diesel locomotive maintenance.
The acquisition is part of Akiem’s programme to accelerate its expansion in Europe, while increasing investment in new locomotive fleets that can serve from Germany to Central Europe, Sweden, the North Sea area, and Italy.
With the complementary leasing and maintenance activities, Akiem and its subsidiary mgw Service will be able to expand their networks.
mgw Service CEO Klaus Weiß said: “We are extremely satisfied with this transaction, which gives mgw Service the support of a European leader like Akiem.
“Our company’s growth is now assured by once again expanding our European base so that we can serve all our customers with ever more dedication and commitment.”
mgw provides preventive and corrective maintenance for locomotives on behalf of rail freight and passenger operators.
The company operates mainly in Germany from its own workshop in Krefeld and in Sweden, and also in Switzerland, Italy, and Poland.
Akiem CEO Fabien Rochefort said: “For Akiem, this acquisition is a significant step forward for our expansion in Europe. Akiem is determined to support and develop mgw Service and the synergies with our leasing business.
“The high professional standards and quality of service offered by both Akiem and mgw Service will enable us to offer our customers new services and provide better solutions for prospective customers in Europe.”
The acquisition is set to come into force following the decision of European competition authorities, which is expected in the end of the first quarter of this year.
Akiem’s fleet of more than 360 electric and diesel locomotives provides its customers with rail traction solutions.