Divestiture • Business Services

AITX Acquires SMBC Rail Services

On November 7, 2023, AITX acquired business services company SMBC Rail Services from SMBC

Acquisition Context
  • This is AITX’s 2nd transaction in the Business Services sector.
  • This is AITX’s 2nd transaction in the United States.
  • This is AITX’s 1st transaction in Illinois.

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M&A Deal Summary

Date November 7, 2023
Target SMBC Rail Services
Sector Business Services
Buyer(s) AITX
Sellers(s) SMBC
Deal Type Divestiture

Target Company

SMBC Rail Services

Chicago, Illinois, United States
SMBC Rail Services is a full-service lessor of rolling stock, offering comprehensive rail leasing solutions in North America. SMBC Rail Services is based in Chicago, Illinois.
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Buyer Overview 1

Buyer

AITX

St. Charles, Missouri, United States

Category Company
Founded 1994
Sector Automotive
Employees1,932
DESCRIPTION

AITX is a designer and manufacturer of hopper and tank railcars, that operates through three segments: Manufacturing, Railcar Leasing, and Railcar Services. AITX was founded in 1994 and is based in St. Charles, Missouri.


Deal Context for Buyer #
Overall 2 of 2
Sector: Business Services 2 of 2
Type: Divestiture 2 of 2
State: Illinois 1 of 1
Country: United States 2 of 2
Year: 2023 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-16 The Andersons - Rail Leasing Business

Maumee, Ohio, United States

The Andersons' Rail Leasing Business provides customers a leasing fleet of approximately 60,000 railcars across a diverse offering of car-types, equipment life-cycles, commodities, and industries-serviced.

Buy $550M

Seller Profile 1

SELLER

SMBC

Tokyo, Japan

Category Company
Founded 2002
Sector Financial Services
Employees120,000
Revenue 5M JPY (2025)
DESCRIPTION

SMBC offer a diverse range of financial services, centered on banking operations, and including credit card services, leasing, information services, and securities. SMBC was founded in 2002 and is based in Tokyo, Japan.


Deal Context for Seller #
Overall 1 of 1
Sector: Business Services 1 of 1
Type: Divestiture 1 of 1
State: Illinois 1 of 1
Country: United States 1 of 1
Year: 2023 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-05-01 Nikko Cordial

Tokyo,, Japan

Nikko Cordial Corporation, through its subsidiaries, provides investment and financial services.

Buy ¥775M