Ancala European Infrastructure Fund II has announced an agreement to buy Hector Rail AB including its subsidiary Hector Rail GmbH from EQT. Hector Rail AB is the largest privately-owned train operator in Scandinavia and one of the few train operators with the resources and capacity to run corridor traffic between Scandinavia and Germany.

Hector Rail AB was founded in 2004. Together with its German operations, it has over 250 locomotive drivers and over 100 locomotives. Its main service is environmentally friendly and sustainable freight transport by rail, including timber, steel, energy, lime, and various consumer and industrial goods via container. The company has had a strong growth path through the organic expansion of the customer portfolio in terms of new segments, geographies, partners and suppliers, and has won market shares in both the Scandinavian and German freight transport market.

The takeover is expected to take place within 1-2 months.