| Predecessor | Allco Finance Group |
|---|---|
| Founded | January 2009 |
| Founder | Mitsubishi UFJ Financial Group |
| Headquarters | , England[1] |
Area served | Europe United Kingdom |
| Products | Rolling stock leasing |
| Owner | JPMorgan Chase[2] |
| Website | www |
Beacon Rail is arolling stock company (ROSCO) based in the United Kingdom. Its primary business is the leasing oflocomotives androlling stock to varioustrain operating companies (TOCs).
The company originated within Allco Finance Group's European rolling stock leasing business, which was acquired by the Japanese firmMitsubishi UFJ Financial Group and rebranded as Beacon Rail shortly thereafter. Initially operating a relatively small fleet, it quickly moved to acquire new rail vehicles, such as theClass 68 and theClass 88, along with the buying out of competing firms such asHSBC Rail andAscendos Rail Leasing. In 2017, Beacon Rail was purchased by the multinational investment groupJPMorgan Chase; at this point, the company had almost 200 locomotives in its inventory. Rolling stock deals with other companies have continued, such as withColas Rail,Stadler Rail, and theClayton Equipment Company
In May 2008, Japan'sMitsubishi UFJ Financial Group purchased the European rolling stock leasing business of the Australian services entityAllco Finance Group.[3][4][5] In January 2009, the entity was rebranded as Beacon Rail.[1] Its initial fleet comprised 15Class 66 locomotives (which were typically leased toFastline andFreightliner), 12Bombardier Traxx locomotives, and 15 coal wagons.[6][7]
During early 2009, in coordination with the British train operating companyDirect Rail Services (DRS), Beacon Rail approached the Swiss manufacturerStadler Rail to explore the construction of a bespoke locomotive to meet DRS's needs. The locomotive, which was based upon its existingEurolight platform, became theClass 68.[8] From 2014, across multiple batches, a total of 32 locomotives would be delivered for mixed traffic operations,[9][10][11] largely with DRS, or sub-leased by DRS to other operators.[12][13] Beacon Rail also acquired tenClass 88electro-diesel locomotives for DRS, which had a high degree of commonality with the preceding Class 68 (70 percent of all components are shared).[14][15]
In 2009, Beacon Rail purchasedHSBC Rail's European business along with its 20EMD JT42CWR locomotives.[16] In 2012, it purchased its first passenger stock via a deal for 20Class 313s that it leased toSouthern, these multiple units had been acquired fromEversholt Rail Group.[17] In 2014, Mitsubishi sold Beacon Rail to Pamplona Capital Management.[18][19] In 2016,Ascendos Rail Leasing was purchased.[20][21]
The firm also expanded its inventory of carriages; by 2016, 67 double-deck coaches were in operation inDenmark.[22] That same year, Beacon Rail, in coordination withTransPennine Express (TPE) andConstrucciones y Auxiliar de Ferrocarriles (CAF), announced plans to acquire 66Mark 5A coaches for TPE's services, to be hauled by Beacon-owned Class 68 locomotives leased from DRS.[23][24]
In 2017, Beacon Rail was purchased by the multinational investment groupJPMorgan Chase. At the time of its acquisition, the company's portfolio had grown to include 190 locomotives, 944 freight wagons and 20 passenger trains.[2][25] Shortly after, 352Class 220 and221 diesel multiple units were purchased from subsidiaries ofLloyds Bank andRoyal Bank of Scotland.[26][27] In 2018, 67 locomotives were purchased fromColas Rail.[28][29] In July 2020, the company launched its new branding, trading simply asBeacon.[30]
In 2021, it was announced that Beacon Rail would purchase 15CBD90 battery locos from theClayton Equipment Company.[31][full citation needed] During April 2022, GB Railfreight and Stadler announced that an order for 30Class 99 bi-mode heavy freight locomotives had been placed with the latter.[32]
In February 2023 Beacon Rail finalized the purchase via auction of 12BB27300 series locomotives from theSNCFTransilien fleet.[33]
