Sydney, 22 October 2021
Macquarie Asset Management on behalf of its managed funds and client (Macquarie Asset Management) today announced that they have reached an agreement for Aurizon to acquire One Rail Australia (One Rail), in a whole of business transaction.
Macquarie Asset Management is divesting One Rail after a successful five years of ownership and investment into the business, which has grown to become an industry-leading rail operator with a unique platform of critical rail infrastructure and a presence in New South Wales, South Australia, the Northern Territory and Queensland.
During Macquarie Asset Management’s ownership, more than $A250 million in capital expenditure was invested to support the management team to expand the business into new markets, grow its customer base and workforce, and increase the diversification of the commodities it carries.
Frank Kwok, Head of Asia Pacific, Real Assets, Macquarie Asset Management said: “We are proud to have supported One Rail’s growth over the past five years, working with the management team to add long term value to the business through diversifying its market presence and commodity set, building out its ESG activities, and providing high-quality service to its customers.”
One Rail has significantly increased its focus on ESG during the past five years, publishing its first sustainability report in 2019 and delivering against a series of ESG metrics. The business achieved a 2021 GRESB Benchmark rating of 97/100, which is in the top two per cent of all infrastructure assets and sees the business ranked third among its global peers. It has also set targets to further reduce Scope 1 and 2 emissions intensity by 2030, including actively pursuing a range of fuel efficiency and emissions control systems across the business. One Rail has also delivered an industry leading safety performance.
The transaction is subject to certain customary conditions including regulatory and consent approvals.