Beacon Rail

Beacon Rail is a rolling stock company owned by JPMorgan Chase.

Beacon Rail
PredecessorAllco Finance Group
FoundedJanuary 2009
FounderMitsubishi UFJ Financial Group
Headquarters
London
,
England
Area served
Europe
United Kingdom
ProductsRolling stock leasing
ParentJPMorgan Chase
Websitewww.beaconrail.com

History

In May 2008, Mitsubishi UFJ Financial Group purchased Allco Finance Group's European rolling stock leasing business.[1][2][3] In January 2009 it was rebranded Beacon Rail. Its initial fleet comprised 15 class 66s leased to Fastline and Freightliner, 12 Bombardier Traxxs and 15 coal wagons.[4][5]

In 2009, Beacon Rail purchased HSBC Rail's European business with 20 EMD JT42CWR locomotives.[6] In 2012 it purchased its first passenger stock with twenty Class 313s on lease to Southern acquired from Eversholt Rail Group.[7] In 2014, the business was sold to Pamplona Capital Management.[8][9] In 2016 Ascendos Rail Leasing was purchased.[10][11]

In 2017, Beacon Rail was purchased by JPMorgan Chase. By this stage its portfolio included 190 locomotives, 944 freight wagons and 20 passenger trains.[12][13] Shortly after, 352 Class 220 and 221 carriages were purchased from subsidiaries of Lloyds Bank and Royal Bank of Scotland.[14][15] In 2018, 67 locomotives were purchased from Colas Rail.[16][17]

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References
  1. BTMU buys Allco Finance Rail issue 592 21 May 2008 page 65
  2. Allco taken over Today's Railways Europe issue 150 June 2008 page 12
  3. Leasing firm sells European arm Railway Gazette International June 2008 page 356
  4. New leasing company launched International Railway Journal February 2009 page 7
  5. Beacon Rail launched Today's Railways Europe issue 159 March 2009 page 7
  6. HSBC Rail pulls out of Europe Today's Railways Europe issue 161 May 2009 page 10
  7. Second Generation EMUs and Electrostar Update Modern Locomotives Illustrated issue 233 October 2018 page 16
  8. New owner for Beacon Rail Rail issue 748 14 May 2014 page 12
  9. Pamplona buys Beacon Rail Railway Gazette International June 2014 page 22
  10. Beacon buys Ascendos The Railway Magazine issue 1383 June 2016 page 96
  11. Ascendos sold to Beacon Today's Railways Europe issue 247 July 2016 page 7
  12. Pomplona sells Beacon Rail Leasing to JP Morgan International Railway Journal May 2017 page 16
  13. JP Morgan buys Beacon Modern Railways issue 825 June 2017 page 88
  14. Beacon Rail buys Voyager DEMU fleet Railway Gazette International 24 July 2017
  15. Beacon Rail acquires Voyager fleet Today's Railways UK issue 189 September 2017 page 71
  16. Beacon Rail buys Colas fleet Railway Gazette International 20 December 2018
  17. Colas sells locos to Beacon Rail Rail Express issue 273 February 2019 page 9
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