EQT Infrastructure VI has entered into an agreement to acquire Eagle Railcar Services, North America’s largest independent provider of railcar repair and maintenance, in a deal expected to close in Q2 2025.

Founded in 2001 and headquartered in Eastland, Texas, Eagle operates 13 full-service facilities across the US and employs approximately 1,500 people. The company serves a diverse industrial client base, offering critical regulatory inspection, repair, and compliance services for hazardous and non-hazardous freight railcars.

The acquisition aligns with EQT’s strategy of investing in essential infrastructure supported by strong macro tailwinds. These include increased demand for rail-based logistics, growing regulatory scrutiny on rail safety, and a broader trend toward industrial nearshoring.

EQT will partner with Eagle’s founder and CEO, Marc Walraven, to support the company’s next growth phase. Value creation initiatives will focus on operational improvements, automation, and expansion across new geographies.

Neha Jatar, Managing Director at EQT, said Eagle plays a vital role in enabling the safe transport of goods critical to the economy. The investment brings EQT Infrastructure VI to between 45% and 50% deployed, including announced and signed deals.

Paul, Weiss, Rifkind, Wharton & Garrison LLP advised EQT on the transaction.