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M&A
Rail News: M&A
It’s official. EMD now is under new ownership and leadership, and operating under a new name: Electro-Motive Diesel Inc. Yesterday, Greenbriar Equity Group L.L.C. and Berkshire Partners L.LC. announced they completed their acquisition of Electro-Motive Division from General Motors Corp.
The deal includes EMD’s North American and international locomotives; power, marine and industrial products; spare parts and parts rebuilding business; locomotive maintenance contracts; and LaGrange, Ill., and London, Ontario manufacturing facilities.
Greenbriar and Berkshire named John Hamilton president and chief executive officer, and appointed Jerry Greenwald non-executive chairman of EMD. Hamilton — who worked with Greenbriar and Berkshire officials on the EMD transaction — previously served in various senior management capacities in the transportation industry. Greenbriar founder Greenwald previously served as CEO of United Airlines and vice chairman of Chrysler Corp.
4/6/2005
Rail News: M&A
The end of the Electro-Motive Division era: EMD changes owners, management and name
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It’s official. EMD now is under new ownership and leadership, and operating under a new name: Electro-Motive Diesel Inc. Yesterday, Greenbriar Equity Group L.L.C. and Berkshire Partners L.LC. announced they completed their acquisition of Electro-Motive Division from General Motors Corp.
The deal includes EMD’s North American and international locomotives; power, marine and industrial products; spare parts and parts rebuilding business; locomotive maintenance contracts; and LaGrange, Ill., and London, Ontario manufacturing facilities.
Greenbriar and Berkshire named John Hamilton president and chief executive officer, and appointed Jerry Greenwald non-executive chairman of EMD. Hamilton — who worked with Greenbriar and Berkshire officials on the EMD transaction — previously served in various senior management capacities in the transportation industry. Greenbriar founder Greenwald previously served as CEO of United Airlines and vice chairman of Chrysler Corp.
