Porterbrook acquires West Midlands Trains fleet
More than 400 trains used on routes across Shropshire and the Black Country have been acquired.
Porterbrook, the rolling stock financier and asset management company, has bought a fleet of 324 Class 730 Aventra electric and 80 Class 196 diesel units operated by West Midland Trains.
They serve passengers on routes between Shropshire, Wolverhampton and Birmingham and at stations across the Black Country and wider West Midlands.
Together, they account for 60 per cent of West Midlands Trains' network operations which have this week returned to public ownership after previously being run by private rail company Transport UK Group.
The fleets were previously owned by Corelink Rail Infrastructure which is a joint venture between Infracapital and Pan-European Infrastructure II.
Mary Grant, chief executive of Derby-based Porterbrook, said: "West Midlands Trains has been one of our largest customers for over 15 years and this latest transaction solidifies that partnership for the future.
"It also completes a programme of more than £1 billion of capital deployed during the last five years in new trains, fleet upgrades, traction innovation and rail infrastructure."
The five-car Aventras will be stabled and maintained at the Bletchley Train Maintenance Depot in Milton Keynes.
Tom Crawley, managing director at Infracapital, added: "We believe Porterbrook is well-positioned to continue supporting Corelink's mission to deliver dependable and sustainable rail transport in the UK."Advisers on the deal were CA-CIB, Freeths, Deloitte, DC Advisory and Eversheds Sutherland.
Freeths partner Tom Johnson said: "This transaction marks a pivotal moment for Porterbrook as it continues to shape the future of UK rail.
"Our team was delighted to play a role in a deal that not only enhances operational resilience for West Midlands Trains but also accelerates the industry's transition towards greener, more efficient transport solutions."
