One Rail Australia Acquisition, Valuation, Funding & Investors

One Rail Australia was acquired by Aurizon Holdings for $1.8B in October 2021.

One Rail Australia acquisition price

$1.8B

Acquired by Aurizon Holdings · Oct 2021

Key investors in One Rail Australia

  • Macquarie Asset Management

One Rail Australia Overview

About One Rail Australia

One Rail Australia is a rail freight haulage business that runs bulk and general freight trains in South Australia, the Northern Territory, New South Wales and Queensland, including over the 2,200km Tarcoola-to-Darwin line. It hauls coal, grain, minerals and intermodal freight under long-term contracts with resource and industrial customers and owns locomotives, wagons and rail terminals. The company traded as Genesee & Wyoming Australia until it was renamed One Rail Australia in 2020 after its US parent exited.


Founded

1997

HQ

AustraliaAdelaide

Status

Acquired

Customer focus

B2B

Revenue model

Services

Valuation

$1.8B (acquired Oct 2021)

One Rail Australia Acquisition

One Rail Australia was acquired by Aurizon Holdings for $1.8B on 22 October 2021.

ASX-listed Aurizon agreed to acquire One Rail Australia for A$2.35 billion from Macquarie Asset Management and PGGM, adding bulk haulage in South Australia and the Northern Territory as well as coal haulage in New South Wales and Queensland. Macquarie Asset Management said it had held the business for around five years and had invested more than A$250 million of capital expenditure to expand into new commodities and markets. Aurizon committed to divest One Rail's East Coast Rail business by demerger or trade sale to address competition concerns, and completed the acquisition in 2022.

One Rail Australia acquisition details
AcquirerDateTypePrice
22 Oct 2021Strategic M&A$1.8B

Sources: macquarie.com, railjournal.com, realassets.ipe.com, macquarie.com, railwaygazette.com

One Rail Australia Funding History

One Rail Australia has raised 1 funding round.

One Rail Australia funding rounds
DateStageInvestorsDeal Summary
Oct 2016Undisclosed stageMacquarie Asset ManagementFunds managed by Macquarie Infrastructure and Real Assets acquired a 49 per cent equity stake in Genesee & Wyoming Australia, the rail haulage business later renamed One Rail Australia, with US parent Genesee & Wyoming retaining 51 per cent and operational control. The stake was issued concurrently with GWA's agreement to buy Glencore's Hunter Valley coal haulage business GRail for A$1.14 billion, which came with a 20-year haulage contract with Glencore. The enlarged partnership was described by the parties as having an enterprise value of about A$2 billion.

Who has invested in One Rail Australia?

1 investor has backed One Rail Australia across its funding rounds, including Macquarie Asset Management.


One Rail Australia Investors

Investors in One Rail Australia by funding rounds participated
InvestorHQRoundsRoleFirst check

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One Rail Australia Competitors

One Rail Australia competitors include listed companies like Newag, Flex LNG, Mullen Group and Triangle Defense Co., and private ones like CargoBeamer and Loggi.

Public and private companies comparable to One Rail Australia
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
NewagPolandPolandPublicly listed$631M$130M$1.2B1.7x
CargoBeamerGermanyLeipzigPrivate--$418M-
Flex LNGNorwayNorwayPublicly listed$348M$240M$1.8B8.8x
Mullen GroupCanadaCanadaPublicly listed$1.5B$230M$1.7B1.4x
LoggiBrazilSão PauloPrivate--$1.8B-
Triangle Defense Co.ChinaChinaPublicly listed$237M$81M$1.7B-

One Rail Australia Public Comps

One Rail Australia is no longer listed, but its public comps include Flex LNG, Mullen Group, Triangle Defense Co., STEF, Transfar Zhilian Co, Mitsui-Soko Holdings, Jungfraubahn Holding, Alexandria Containers and Goods, Xinhua Winshare and Shadowfax.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Flex LNG$348M$240M9.1x8.8x13.1x11.9x
Mullen Group$1.5B$230M1.5x1.4x10.3x9.1x
Triangle Defense Co.$237M$81M6.2x-18.1x-
STEF$5.9B$508M0.6x0.6x6.8x6.0x
Transfar Zhilian Co$3.7B$258M1.0x1.3x14.0x12.5x
Mitsui-Soko Holdings$1.9B$213M1.0x1.0x9.4x-
Jungfraubahn Holding$331M$168M4.7x4.3x9.3x10.0x
Alexandria Containers and Goods$160M$102M11.4x10.5x17.9x14.4x

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Common questions about One Rail Australia

When was One Rail Australia founded?One Rail Australia was founded in 1997.
Where is One Rail Australia headquartered?One Rail Australia is headquartered in Adelaide, Australia.
Is One Rail Australia publicly listed?No, One Rail Australia was acquired by Aurizon Holdings in October 2021.
Who acquired One Rail Australia?One Rail Australia was acquired by Aurizon Holdings in October 2021.
How much was One Rail Australia acquired for?One Rail Australia was acquired for $1.8B in October 2021.
What was One Rail Australia's last funding round?One Rail Australia's last funding round was a undisclosed-stage round in October 2016.
Who are One Rail Australia's investors?One Rail Australia's investors include Macquarie Asset Management.
Which companies are comparable to One Rail Australia?Companies comparable to One Rail Australia include Newag, CargoBeamer, Flex LNG, Mullen Group, Loggi and Triangle Defense Co..

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