UK-based Beacon Rail Leasing (Beacon) has completed the acquisition of Ascendos Rail Leasing (Ascendos) after receiving clearance with the German competition authorities.
The merged entity includes 225 locomotives and over 1,000 freight wagons on lease in the UK, Scandinavia, Belgium, the Netherlands, Poland, and Germany. It also has 55 passenger trains on lease in the UK and Germany, 67 double decker coaches on lease in Denmark, and 13 sets of Mark 5 coaches in the UK, which will be operated by TransPennine Express.
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Beacon Rail Leasing’s CEO Ted Gaffney said: "Closing on the acquisition of Ascendos marks the beginning of a new chapter for Beacon Rail.
"We are committed to providing quality, state-of-the-art rolling stock to the UK and European freight and passenger markets and welcome the Ascendos employees to the Beacon family."
In May 2014, Pamplona Capital Management acquired Beacon through Pamplona Capital Partners.
Since the completion of the deal, Beacon has been an active acquirer of assets through portfolio acquisitions, the placement of new build orders, and the closing of sale or leaseback transactions with various freight and passenger operators.
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By GlobalDataIn July last year, Beacon acquired 27 diesel locomotives from locomotive leasing and servicing company Mitsui Rail Capital Europe (MRCE).
The locomotives are between the age of 8 and 12 years and were sold with lease contracts to several rail cargo operators in place, with first ten locomotives handed over at various locations in Germany.
