Ascendos Rail Leasing


Ascendos Rail Leasing S.à r.l., formerly CBRail, was a European rolling stock leasing company based in Luxembourg, formed in 2004 from the European operations of Porterbrook. The company focused on Continental Europe, and had offices in Luxembourg, Germany and the United Kingdom.
In June 2016, Ascendos Rail Leasing was acquired by Beacon Rail Leasing, another Pan-European rolling stock lessor. The combined Beacon and Ascendos portfolio includes 225 locomotives and over 1,000 freight wagons on lease in the UK, Scandinavia, Belgium, the Netherlands, Poland and Germany, 55 passenger train units on lease in the UK and Germany, 67 double decker coaches on lease in Denmark, and 13 sets of Mark 5 coaches which will be operated by TransPennine Express in the UK.

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. At the time of the takeover from Porterbrook the company had leasing arrangements for 28 locomotives and 67 coaches.
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.
During the 2000s CBRail continued to expand its fleet, including freight wagons in its portfolio; by June 2008, the company had 118 locomotives, 785 freight wagons and 103 passenger vehicles either on lease or under construction.