ITE Management L.P. announced Monday morning that it has sold the manufacturing business assets of its wholly-owned subsidiary, St. Charles-based American Railcar Industries Inc.
The assets were sold to Lake Oswego, Ore.-based Greenbrier Companies Inc. in a deal valued at approximately $430 million. American Railcar made unsuccessful bids to buy Greenbrier in 2008 and 2012.
ITE Management L.P. is an investment firm that focuses on the industrial and transportation sectors. It acquired American Railcar for $1.34 billion at the end of last year.