Porterbrook snaps up key West Midlands Trains fleet

Rolling stock financier and asset management company Porterbrook has completed the acquisition of 404 rail vehicles from Corelink Rail Infrastructure.

The transaction covers a significant proportion of the fleet operating on the West Midlands Trains network and supports the continued deployment of modern rolling stock across key routes.

Legal advice on the acquisition was provided by law firm Freeths, which acted for Derby-based Porterbrook on the deal.

The acquired assets comprise 324 Class 730 Aventra electric units and 80 Class 196 diesel units. Together, the vehicles account for around 60% of West Midlands Trains’ operational fleet.

The Class 730 units are maintained at Bletchley Train Maintenance Depot, which underwent a £66m upgrade funded by Porterbrook in 2024.

Corelink Rail Infrastructure is jointly owned by Infracapital and Pan-European Infrastructure II, a fund managed and advised by DWS Group.

Porterbrook owns and manages approximately a quarter of Britain’s passenger rail fleet and works with train operating companies to deliver long-term fleet investment.

The acquisition is expected to further strengthen its existing relationship with West Midlands Trains and support the continued rollout of energy-efficient trains.

The Freeths advisory team was led by partner Tom Johnson, supported by corporate partner Dahren Naidoo, commercial director Rachel Crosier, corporate director Melanie Mapstone, corporate managing associate Megan Atack and commercial senior associate Michael Wells.

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. As a certified B Corp, we’re passionate about working on projects that deliver long-term environmental benefits.”