FTAI Acquires Wheeling Corp for $1.05 Billion

By Maria Kalamatas | August 8, 2025

New York — FTAI Infrastructure has completed a deal to buy The Wheeling Corporation. The value of the transaction is 1.05 billion dollars.

Wheeling owns about 300 miles of freight rail lines. The network is located in Ohio, Pennsylvania, and West Virginia. It serves industrial clients in steel, construction, and chemicals.

“This is a solid step for our long-term strategy,” said an FTAI executive on Wednesday.

The company will integrate these tracks into its broader logistics system. It plans to connect the lines with warehouses and terminals already under development.

The acquisition was funded by Fortress Investment Group. It reflects FTAI’s focus on essential infrastructure in underserved U.S. markets.

The deal is expected to close by the end of the year, pending approval.

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