ANGEL TRAINS

Investing in passenger trains to support UK railway and 

its passengers

Angel has been an owner and lessor of rolling stock since mid 1990s, with a fleet of more than 4,300 passenger vehicles and combined value of over £3 bn.

Transport

logistic

AEIF1

Vehicle

logistics

2008

Investment year

logistics

Realised

Status

logistics

United Kingdom

Country

More about Angel Trains

 

2015

Realised

0 %

Market share

> 0

Passenger vehicles

0

Employees

Market

  • Rail is a popular transport choice in the UK and new trains are required to be built to meet rising passenger demand and for future electrification
  • Rolling stock owners provide a key infrastructure asset to rail service operators under medium to long-term contracts insulated from passenger demand risk
  • Rolling stock assets present a 30 years expected asset life and we identified significant opportunities for extensions and upgrades, which bring economic benefit to the owner
  • Growing passenger demand and high visibility of future tendering processes result in very high utilisation rates for existing assets and accretive new build opportunities
  • Rolling stock companies enjoy very robust cashflows and dividend yields, with upside arising from asset improvement and new build opportunities

Asset

  • In August 2015, the fund completed the sale of its entire stake in Angel to existing shareholders, at a return well above the entry investment case
  • During the Arcus ownership period, Angel expanded its rolling stock portfolio and invested £690 million in new build opportunities, procuring 336 additional vehicles
  • Angel achieved 12% EBITDA growth during the period Arcus held the investment

Arcus news

September 17, 2024
Arcus acquires Polish fibre-to-the-home business, FixMap
September 12, 2024
Infrastructure Investor: Mid-Market Roundtable 2024
August 5, 2024
Coolworld announces strategic acquisition of The CRS Group
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Date joined

June 2022

Office

London

English

Polish

French

Afrikaans

Karol joined Arcus in June 2022 as a Senior Investment Executive. Prior to joining Arcus, Karol worked in the digital infrastructure origination team at Amber Infrastructure and in the infrastructure principal investments team at Macquarie Capital. Karol is a member of the Digital Origination Team. His infrastructure experience to date has been primarily focused on infrastructure origination.

Karol holds a BA in Accounting and Finance from University of Manchester.

Management roles

  • Head of Energy Sector Team
  • Investment Committee Member