23 October 2020

Amber Infrastructure Group (‘Amber’), the specialist international infrastructure investment manager, is pleased to announce that the Three Seas Initiative Investment Fund S.A. SICAV-RAIF (‘3SIIF’, ‘the Fund’) has made its first investment, signing an agreement to acquire 100% of the equity of Industrial Division sp. z o.o., trading as “Cargounit”.

Cargounit is the largest independent locomotive leasing company in Poland and is the sixth largest rolling stock company in Europe.

The Polish rail freight market is the second largest in Europe after Germany. It is forecast to continue to grow, with a large-scale rail modernisation programme underway promoting connectivity both in Poland and within the wider Three Seas region. The EU and the Three Seas member countries are committed to increasing the use of rail to transport both goods and passengers in order to reduce road transport and carbon emissions and Cargounit’s addition into 3SIIF’s portfolio supports these objectives. 

Cargounit is well positioned as the only locomotive leasing company in Poland able to offer a full suite of locomotive types and has extensive plans to modernise its fleet over the coming years as it continues to grow both within Poland and through expansion in the Three Seas region.  Expansion of the business to operate in other Three Seas countries will also play a part in increasing connectivity in the region as well as enhancing the efficient transportation of freight by rail.  The company expects to invest heavily in new multi-system locomotives able to operate cross border.

The business will continue to operate from its headquarters in Wroclaw and the management team will remain with the company with responsibility for growing the locomotive fleet and expanding the company’s operations as part of a long-term investment plan.

Joe Philipsz, Senior Investment Director at Amber, said: “We are delighted to announce the signing of Cargounit. Cargounit’s existing asset base and customer relationships offer a strong platform for expansion both in Poland and surrounding countries. Increasing the interconnectivity of the Three Seas countries, reducing transportation costs and enhancing the infrastructure are all core objectives of the Fund”.

For further information:

Amber Infrastructure Limited

Erica Sibree/Amy Joslin        


+44 (0)20 7939 0558/0587 

FTI Consulting   

Ed Berry/Mitch Barltrop

+44 (0) 20 3727 1046/1039

Important Notice

This announcement does not constitute or form part of, and should not be construed as, an offer, invitation or inducement or recommendation to make an investment nor shall it or any part of it form the basis of, or be relied upon in connection with, any contract or commitment whatsoever.

Amber Infrastructure Group

Amber Infrastructure (‘Amber’) is a specialist international investment manager, focused on investment origination, asset management and fund management.  Amber’s core business focuses on sourcing, developing, advising, investing in and managing infrastructure assets across the public, transport, energy, digital and demographic infrastructure sectors that support the lives of people, homes and businesses internationally.

Amber is headquartered in London with offices in Europe, North America and Australia and employs over 130 infrastructure professionals.


3SIIF is a dedicated commercial fund targeting infrastructure investments in Central and Eastern Europe (‘CEE’).  The Fund will invest in energy, transport and digital infrastructure in European Union (‘EU’) CEE member states which border the Baltic, Adriatic and Black Seas where the demand for long-term commercial investment into national infrastructure is among the highest in the EU.

Amber Infrastructure Group is the exclusive investment adviser to the Fund.

More information about 3SIIF can be found here.

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