Ascendos Rail Leasing

Ascendos Rail Leasing S.à r.l.
Industry Rail transport leasing (Europe)
Predecessor Porterbrook
Founded 2004 (as CBRail)
Headquarters Luxembourg
Owner Consortium of:
Everest Babcock & Brown Opportunities Fund
Global Investments Limited
BOSSAF Rail Limited
Website www.ascendos.com

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

Ascendos is owned by a consortium of Everest Babcock & Brown Opportunities Fund of Australia, Global Investments Limited of Singapore and the British Lloyds Banking Group's subsidiary BOSSAF Rail Limited.[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]

See also

References

External links

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