Ancala Partners completes the refinancing of Hector Rail

Hector Rail, the largest private freight train owner and operator in Scandinavia, with a growing platform in Germany, has raised a SEK 519 million financing package from a group of leading European commercial lenders to refinance its existing debt. The financing package comprises a term loan alongside a capex facility to support the growth of the business.

The refinancing will allow Hector Rail to continue to strengthen its position as Sweden’s leading independent green electric rail freight provider, enhance the company’s growing position in Germany and support the company in expanding its existing fleet.

Hector Rail was acquired by funds managed by Ancala Partners LLP, the independent mid-market infrastructure investment manager, in August 2020. Following the acquisition of Hector Rail, Ancala explored options for potential debt facilities and an appropriate financing strategy to support Hector Rail’s growth plans. Hector Rail’s robust performance, despite the difficult market conditions caused by Covid-19, made for an attractive proposition for lenders.

The lenders in the financing package are Landesbank Hessen-Thüringen (Helaba) and Siemens Bank.

Spence Clunie, Managing Partner of Ancala Partners, commented:
“Hector Rail plays a key role in both the Swedish and German economies, delivering an essential green electric rail freight service through the Covid-19 pandemic. This financing package will support Hector Rail through its next stage of growth. This refinancing demonstrates Ancala’s
continued ability and expertise in successfully executing debt financings for our portfolio companies.”

Kurt Håkansson, Chairman of Hector Rail commented:
“Hector Rail has delivered robust performance through the Covid-19 pandemic, continuing to deliver reliable green electric rail freight services for its customers across a range of industries. The new financing package will support our ambitions to further expand our fleet, strengthen our position as the leading independent rail freight provider in Sweden and grow our platform in Germany.”

For more information, see the website: or contact:

Brunswick Group
Fiona Micallef-Eynaud / Samantha Chiene
Tel: +44 207 404 5959
Email:  moc.puorgkciwsnurb@alacna

Ancala Partners
Spence Clunie, Partner
Tel: +44 7917 648 346Email: moc.alacna@ecneps

Notes to Editors    

About Hector Rail
Hector Rail is the largest private freight train owner and operator in Scandinavia, with a growing platform in Germany. Founded in 2004 and headquartered in Stockholm, Hector Rail operates in a critical part of the rail freight value chain. It operates over 100 locomotives and
employs more than 400 people, with a turnover of approximately SEK 1 billion. The company provides green electric traction service, i.e., locomotives and drivers to transport freight, as well as complementing services (mainly wagons and shunting), focusing on block train provision
to a range of blue-chip customers within various industries. Hector Rail has a modern and eco-friendly core electrical fleet.

About Ancala Partners
Ancala Partners LLP is an independent infrastructure investment manager focused on delivering enhanced returns from mid-market infrastructure investments across Europe. Ancala adopts a proactive approach to the origination and asset management of investments to create value for its investors.

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