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May 16, 2016

Dutch firm Beacon Rail Leasing agrees to buy Ascendos

Dutch company Beacon Rail Leasing has entered an agreement to acquire European firm Ascendos Rail Leasing from Everest Babcock & Brown Opportunities Fund, BOSSAF Rail, and the BBSFF EU Rail Lessor.

Dutch company Beacon Rail Leasing has entered an agreement to acquire European firm Ascendos from Everest Babcock & Brown Opportunities Fund, BOSSAF Rail, and the BBSFF EU Rail Lessor.

Subject to customary conditions, the deal is expected to be completed during the second quarter of this year.

Luxembourg-based Ascendos has offices in London and Munich. Its portfolio includes 35 locomotives and 100 freight wagons in Belgium, the Netherlands, and Germany, as well as 35 passenger trainsets in Germany and 67 double-deck coaches in Denmark.

Beacon owns and manages a fleet of 190 locomotives, 944 wagons and 20 passenger trainsets in Europe. Its customers include freight operators in the UK, and locomotive and rolling stock operators throughout Europe and Scandinavia.

"The deal is expected to be completed during the second quarter of this year."

The company was acquired by Pamplona Capital Management in May 2014, and since has been claimed to be an active acquirer of assets through acquisitions, new build orders, and sale and leaseback transactions.

Beacon CEO Ted Gaffney said: "The acquisition of Ascendos allows us to continue to build our portfolio of locomotives and is in line with our strategy and commitment to being a leader in this segment of the market.

"Ascendos’ portfolio of rolling stock nicely complements our existing fleet of locomotives and allows us to expand our presence into the European passenger train market. Overall, we believe that the portfolio and staff of Ascendos is a great fit for Beacon and is additive to our existing platform."

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