Darby Private Equity, the equity unit of Franklin Templeton Investments, had announced that it has completed an investment wortth US$15 million in Alta Rail Technology. This was made possible through its Darby Latin American Mezzanine Fund II LP which allowed the expansion of the market for supplier of technology and services to railroad companies throughout the world.
The financial details of the transaction was not disclosed in the announcement. The ART combines the business of three Brazilian railway technology providers such as ALL Rail Technology, Daiken Ferroviaria and Engesis Engenharia e Sistemas for the production of top notch railway technology services.
According to Richard Frank, Darby's Managing Director for DLAMF II, "We are very pleased to have concluded this investment in ART as it reinforces Darby's longstanding commitment to investing in the region and specifically in Brazil. We are attracted to ART because of its strong industry leadership in emerging markets, its successful track record of developing innovative solutions for its clients in Brazil and abroad, as well as the favorable outlook for the rail sector worldwide."
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