About us

Rail First Asset Management > About us

Australia's #1 full-service locomotive and wagon leasing company

Rail First Asset Management is Australia’s leading provider of rollingstock solutions for the Rail Industry. With the 3rd largest intermodal fleet in the country, our services include locomotive and wagon leasing, rollingstock overhaul and repair, and we are proud to be Australia’s only domestic manufacturer of rail wagons.

A company built to grow

Over 24 years, Rail First Asset Management has developed an enviable position as the market leader in rail freight leasing and maintenance across Australia.   From humble beginnings with 13 used locomotives bought at auction, we have grown to become the #1 leasor of rollingstock in Australia with the 3rd largest intermodal fleet and over $450M in assets under our management.

In 2004 and 2010, we expanded our range of leasing capabilities through the acquisition of Bluebird Rail and the establishment of major maintenance facilities in Adelaide, SA and Goulburn, NSW.   These facilities and technical capabilities, they ensure Rail First Asset Management can schedule, maintain, and overhaul all our own equipment.   This provides cost savings to customers and ensures the long-term reliability and availability of our fleet.

In 2019, Anchorage Capital Partners (ACP) bought the business bringing new capabilities, new capital, and a new focus on partnering with customers to deliver reliable assets in key intermodal markets.

Out of this transition came Rail First Asset Management, which has invested significantly in rollingstock over the past 3 years with a focus on intermodal markets and away from coal markets. Rollingstock utilisation has been improved through better asset management and a transition to a long-term contracting approach with key Australian operators.

In 2022 with the business approaching a growth phase and looking to build on the significant improvements made to the business, ACP sold the business to a consortium of Amber Infrastructure and the Dutch Infrastructure Fund (DIF) bothwith a track record of developing both rail and rail leasing businesses in Europe.

As we look forward, we continue to see a sector with favourable market and business conditions:
Strong intermodal rail freight growth, driving demand for rollingstock
Significant headroom for increased leasing penetration in the Australian market
Opportunity to grow our 3rd party maintenance services and
Natural alignment to macro ESG developments given rail’s lower carbon footprint and our ability to build wagons domestically in Australia reducing supply chain and modern slavery risks

RFAM is committed to further unlock its full potential to serve the Australian rail market by:

Continued expansion of our fleet to capitalise on favourable market conditions
Leveraging our strong intermodal fleet to benefit from the delivery of major committed rail projects, including Inland Rail
Realising significant further upside from workshop capacity and substantial customer demand
Investment in technologies which reduce both our and our customers’ carbon footprints and
Continuing our ongoing commitment to safety and social programs for our staff, our customers, and the communities in which we operate

Our Customers
As Australia’s #1 leasing company, we are privileged to serve customers across all areas of the Rail Industry.

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