| Industry | Rail transport leasing (Europe) |
|---|---|
| Predecessor | Porterbrook |
| Founded | 2004 |
| Headquarters | , Luxembourg |
| Parent | Lloyds Banking Group |
| Subsidiaries | Ascendos Rail Leasing |
| Website | www.cbrail.com www.ascendos.com |
CBRail Sàrl is a European rolling stock leasing company based in Luxembourg, formed in 2004 from the European operations of Porterbrook.[1]
Since March 2010 the company's rail leasing activities in Germany and Luxembourg have been carried out by the renamed subsidiary Ascendos Rail Leasing.[2][3]
The company now forms part of Lloyds TSB Rail Capital, a division of Lloyds Banking Group.
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CBRail was created by the takeover of the european operations of the Porterbrooks rail leasing company bya joint venture between Babcock & Brown and Bank of Scotland Corporate Europe (a banking division of HBOS)[1] At the time of the takeover from Porterbrook the company had leasing arrangements for 28 locomotives and 67 coaches.[4][5][6][7]
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.[8]
Through the 2000s CBRail continued to expand its fleet, including freight wagons in its portfolio.;[9] by June 2008, the company had 118 locomotives, 785 freight wagons and 103 passenger vehicles either on lease or under construction.[9]