Ascendos Rail Leasing

Ascendos Rail Leasing S.à r.l., formerly CBRail, was a European rolling stock leasing company based in Luxembourg, formed in 2004 from the European operations of Porterbrook.[1] The company focused on Continental Europe, and had offices in Luxembourg, Germany and the United Kingdom.[2]

Ascendos Rail Leasing S.à r.l.
IndustryRail transport leasing (Europe)
PredecessorPorterbrook
Founded2004 (as CBRail)
Headquarters
Luxembourg
OwnerConsortium of:
Everest Babcock & Brown Opportunities Fund
Global Investments Limited
BOSSAF Rail Limited
Websitewww.ascendos.com

In June 2016, Ascendos Rail Leasing was acquired by Beacon Rail Leasing, another Pan-European rolling stock lessor. The combined Beacon and Ascendos portfolio includes 225 locomotives and over 1,000 freight wagons on lease in the UK, Scandinavia, Belgium, the Netherlands, Poland and Germany, 55 passenger train units on lease in the UK and Germany, 67 double decker coaches on lease in Denmark, and 13 sets of Mark 5 coaches which will be operated by TransPennine Express in the UK.[3]

Background

CBRail was created by the takeover of the European operations of the Porterbrooks rail leasing company by a joint venture between Babcock & Brown and Bank of Scotland Corporate Europe (a banking division of HBOS).[1] At the time of the takeover from Porterbrook the company had leasing arrangements for 28 locomotives and 67 coaches.[4][5][6][7]

Under the new financial backing, the company intended to grow to have a significant market share in the European railway leasing business; in order to do this it expanded its fleet. An order for 35 diesel and electric TRAXX locomotives was placed with Bombardier Transportation in 2006 with an option for 70 more.[8]

During the 2000s CBRail continued to expand its fleet, including freight wagons in its portfolio;[9] by June 2008, the company had 118 locomotives, 785 freight wagons and 103 passenger vehicles either on lease or under construction.[9]

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See also

References
  1. Rail Cargo information Netherlands railcargo.nl Archived 24 July 2011 at the Wayback Machine
  2. Current Asset Review: Period ended 31 March 2010 Archived 11 July 2011 at the Wayback Machine Page 6 , www.globalinvestmentslimited.com
  3. "Beacon Rail Leasing » BEACON RAIL ENTERS INTO AN AGREEMENT TO ACQUIRE ASCENDOS RAIL LEASING". beaconrail.com. 13 May 2016. Retrieved 17 November 2017.
  4. CBRail, a new rolling stock leasing company created by Babcock & Brown and the Bank of Scotland, has purchased the European arm of Porterbrook LeasingInternational Railway Journal, January 2005, via findarticles.com Archived 23 July 2008 at the Wayback Machine
  5. "HBOS, Babcock buy Porterbrook trains", asset-finance-international.com, archived from the original on 13 September 2011
  6. CBRail, a new rolling stock leasing company created by Babcock & Brown and the Bank of Scotland (a division of HBOS), has purchased the European arm of Porterbrook Leasing, which has lease contracts in several European countries for 28 locomotives and 67 coaches.(Europe), International Railway Journal, 1 January 2005, archived from the original on 6 November 2012
  7. Mark Williamson (17 November 2004), "BoS and B&B acquire Abbey train leasing arm", www.heraldscotland.com, Herald Scotland
  8. Bombardier Receives $156 Million US Order from CBRail for 35 TRAXX Locomotives to Provide More Rolling Stock in Europe BusinessWire, 2 February 2006, via www.thefreelibrary.com
  9. "CBRail : About Us", www.cbrail.com, archived from the original on 20 August 2008

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