UK: The Competition & Markets Authority is reviewing the proposed acquisition of UK rolling stock leasing company Eversholt Rail by Beacon Rail, which operates in 18 European countries.
CMA has not yet launched a formal investigation, but has issued a preliminary ‘invitation to comment’ to allow interested parties to submit to their initial views on the impact it could have on competition in the UK. Responses should be submitted by October 27.
On October 14 Eversholt said it anticipates approval for the transaction would be received in Q1 2026, and ‘until then, it remains business as usual’.
Eversholt Rail
Eversholt Rail was one of the three rolling stock leasing companies formed in 1994 as part of the privatisation of British Rail.
HSBC acquired the business in 1997, and Beacon Rail was formed in 2009 when HSBC sold the non-UK assets.
In 2010, HSBC sold the UK business to the Eversholt Investment Group SCS consortium. This was equally owned by 3i Infrastructure, Morgan Stanley Infrastructure Partners and STAR Capital Partners with its co-investor PGGM.
The consortium sold it on in 2015, and Eversholt is now part of the Hong Kong-based group headed by CK Infrastructure Holdings, CK Hutchison Holdings, Power Assets Holdings and CK Asset Holdings.
As of the end of June, Eversholt had a fleet of 2 627 passenger vehicles, of which 1 890 are electric and 236 bi-mode. All are in the UK.
