London-based investment group Pamplona Capital Management LLP has finalised the purchase of UK rolling stock leasing company Beacon Rail Leasing for $450 million.
The acquisition won’t affect Beacon Rail Leasing’s commitments to purchase new locomotives, including its new fleet of 15 diesel-electric Class 68 locomotives from Vossloh España.
Beacon has a current portfolio of 77 locomotives, 632 freight wagons, and 20 passenger train vehicles serving operators in the UK, France, Belgium, Norway, Sweden and Germany.
Ted Gaffney, president of Beacon, will continue in his current role.
He said: “Pamplona’s support and capital commitment will provide Beacon Rail with the opportunity to grow its portfolio at a time when the market for purchasing and leasing locomotives and freight wagons is strong.”
