London/New York – Pamplona Capital Management LLP (“Pamplona”) is pleased to announce that it has signed a definitive purchase agreement to acquire Beacon Rail Leasing (“Beacon”), a UK locomotive and rolling stock leasing company from BTMU Capital Corporation, a subsidiary of Mitsubishi UFJ Financial Group. The consideration, including commitments for firm future deliveries of locomotives is approximately $450 million.
Headquartered in London with additional offices in Boston and Rotterdam, Beacon’s current portfolio includes 77 locomotives, 632 freight wagons, and 20 passenger train units on lease in the UK, France, Belgium, Norway, Sweden and Germany.
In addition, Beacon has ordered 15 diesel-electric and 10 dual mode locomotives from Vossloh España, S.A.U. for lease to Direct Rail Services in the UK. These locomotives will be delivered from 2014 through 2016 and will increase Beacon’s locomotive portfolio to 102 units.
Beacon currently serves three of the top freight operators in the UK and has strong customer relationships with other leading locomotive and rolling stock lessees including Germany’s RheinCargo, France’s Europorte and VFLI, and Norway’s CargoNet.
Ted Gaffney, President of Beacon, will continue to lead the company supported by the existing management team.
“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. With Pamplona’s support, I am very confident that Beacon Rail can fulfill its strategic mission of being a leading provider of high quality rolling stock to the Pan European operator base.”Ted Gaffney
Robert Warden, Partner at Pamplona said:
“We are delighted to be acquiring Beacon Rail when the prospects for rail leasing in Europe have positive trends. 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,”Robert Warden
Debt financing for the transaction was provided by ING Bank NV. Pamplona’s financial advisers were Evercore Partners LLC, and ING Bank NV. Berwin Leighton Paisner LLP, Clifford Chance LLP, and Kirkland & Ellis LLP provided Pamplona with legal advice.
Beacon was acquired through Pamplona’s Private Equity Fund III. Last month Pamplona acquired, through the same fund, a majority stake in Alvogen, one of the fastest growing generics companies in the pharmaceutical industry.
Temple Bar Advisory
Mobile: +44 (0) 773 873 4630 email@example.com
Mobile: +44 (0) 778 999 8020 firstname.lastname@example.org
About Pamplona Capital Management
Pamplona Capital Management is a London and New York based specialist investment manager established in 2005 that provides an alternative investment platform across private equity, fund of hedge funds and single manager hedge fund investments. Pamplona manages over $6.0 billion in assets for a variety of clients including public pension funds, international wealth managers, multinational corporations, family offices and funds of hedge funds. Pamplona is currently managing its third private equity fund, Pamplona Capital Partners III, LP, which was raised in 2011 and has committed capital of $2.7 billion. Pamplona invests long-term capital across the capital structure of its portfolio companies in both public and private market situations. www.pamplonafunds.com
About Beacon Rail Leasing
Beacon Rail is a rolling stock leasing company principally focused on serving the UK and continental European markets. Beacon Rail has an industry leading management team with rail asset management expertise and capital markets experience, enabling it to meet the equipment needs of its global customer base.
It is a wholly owned subsidiary of BTMU Capital Corporation, which is part of Mitsubishi UFJ Financial Group (MUFG), one of the world’s largest financial institutions. www.beaconrail.com
Beacon announces order for 30 bi-mode locomotives for operation in the UK
Beacon, Stadler & GB Railfreight have signed an agreement for the supply of 30 Class 99 bi-mode CoCo locomotives. Beacon is pleased to announce...
Publicado en abril 29, 2022
Beacon announce the purchase of 2 Vectron locomotives from new customer RDC Asset GmbH.
We’re pleased to announce the purchase of 2 Vectron locomotives from new customer RDC Asset GmbH this week. The locomotives have been le...
Publicado en marzo 22, 2022
Beacon deliver next generation Class 18 hybrid+ shunting locomotive to GB Railfreight
In exciting news, Beacon has delivered a next generation Class 18 hybrid+ shunting locomotive to GB Railfreight (GBRf). Manufactured by...
Publicado en febrero 9, 2022
Beacon has acquired 230 latest generation, intermodal wagons
Beacon has acquired 230 latest generation, intermodal wagons as part of a long-term lease with long-standing customer, Freightliner Group Ltd. The ...
Publicado en enero 28, 2022
Beacon announces new partnership with Lineas
Beacon is delighted to have entered a long term partnership with Lineas, one of Europe’s largest private freight operators, for the sale and leaseb...
Publicado en noviembre 18, 2021
Beacon repeats five star rating from GRESB
For the second year running, Beacon has been awarded 5 Stars in the Global Real Estate Sustainability Benchmark (GRESB). Established in 2009, GRESB...
Publicado en noviembre 11, 2021