Founded 2012 | Website www.ascendos.com | |
Industry Rail transport leasing (Europe) Owner Consortium of:Everest Babcock & Brown Opportunities FundGlobal Investments LimitedBOSSAF Rail Limited | ||
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. The company focuses on Continental Europe, and has offices in Luxembourg, Germany and the United Kingdom.
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.
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). 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.