Beacon Rail Leasing, a UK based locomotive and rolling stock leasing company, is to be bought by London based investment firm Pamplona Capital Management for approximately $450m (324.3).
Pamplona signed the definitive purchase agreement for Beacon with current owners BTMU Capital Corporation, a subsidiary of Mitsubishi UFJ Financial Group.
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Beacon is headquartered in London, but also has offices in Boston and Rotterdam. Its current portfolio includes 77 locomotives, 632 freight wagons and 20 passenger train units on lease in the UK, France, Belgium, Norway, Sweden and Germany.
It has a further 15 diesel-electric and 10 dual mode locomotives on order, which will be delivered by 2016.
Beacon’s current president, Ted Gaffney, will continue to lead the company, and the existing management team will also retain their positions.
Gaffney 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."
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By GlobalDataHe added that Pamplona’s backing would allow Beacon to: "Fulfil its strategic mission of being a leading provider of high quality rolling stock to the Pan European operator base."
Explaining the acquisition, Robert Warden, partner at Pamplona, said: "Operators are increasingly leasing locomotives and rolling stock as the rail transportation market grows, driven by deregulation and a growing focus on efficient alternatives to road transportation."
