Posts by: Martin Buckner

Angel Trains announces new Chairman

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London, UK – Today, Angel Trains, one of Britain’s leading train leasing companies, announces the appointment of its new Chairman, Mark Russell, who will be joining the Board from 1st February 2021.

Mark Russell CBE is Chair of DE&S, the Ministry of Defence’s procurement and support organisation, which is responsible for £12 billion Defence equipment spend and employs 11,500 staff. He is also Vice Chair of UK Government Investments (UKGI) and non-executive director of DP World. His previous experience includes a five-year tenure as a board member of Eurostar International and a similar tenure as a board member of London & Continental Railways

Angel Trains’ current Chairman, Tom Smith, will be stepping down from his role after two successful three-year terms. During Tom’s stewardship, Angel Trains has undertaken an unprecedented programme of asset renewals and enhancements, including recent innovations to deliver green rolling stock technologies.

Mark Russell said: “Angel Trains is an established and leading investor in UK rail, working alongside industry partners and Government to deliver exceptional asset management and innovative rolling stock solutions. I am delighted to join the highly experienced leadership team as we continue the collaborative efforts needed to address industry challenges and opportunities to make rail more sustainable.”

Tom Smith said: “It has been wonderful to be part of such a successful organisation. The commitment and calibre of Angel Trains’ people are second to none and the company does so much to improve the experiences of rail passengers all over the country. I leave the company in safe hands and look forward to seeing the continued efforts to advance UK rail.”

Malcolm Brown, CEO of Angel Trains, said: “We are incredibly grateful to Tom and the contribution he has made to Angel Trains throughout his six-year tenure. As the business moves to its next chapter, we are delighted to welcome Mark, who is an accomplished and competent leader that will support our efforts in becoming a leading investor in UK rail and realise the opportunities of an accelerated decarbonisation programme.”

Mark will join non-executive board directors Len Porter and Stuart Paterson and a well-established senior management team including Malcolm Brown, CEO, David Jordan, COO, Alan Lowe, CFO, and Matthew Prosser, Technical Director.

Developing innovative and collaborative solutions for UKRail

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We are committed to working with our industry partners to develop innovative and collaborative solutions for #UKRail.

We are pleased to announce that our Class 350 Pantograph trial, undertaken in partnership with TRANSMISSION DYNAMICSWest Midlands TrainsNetwork Rail and Siemens Mobility, has been shortlisted to the final three in the Cross-industry Partnerships category of the Railway Industry Innovation Awards 2020.

The solution has enabled engineers to receive and respond to real-time data and insights about the condition of the overhead infrastructure. This allows inspections and maintenance to be carried out efficiently, with minimal disruption to services.

This nomination is testament to the ongoing work and collaboration of all teams involved, and we wish them all luck for the awards ceremony next week!

#RailwayInnovation

Recognising there is a greater need for diversity

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We recognise there is greater need for diversity in the #railindustry and are proud of our involvement in the #WomeninRail programme, which helps to support 130 female professionals pursuing careers in the #UKRail. To support the programme, we will be sharing the experiences of our mentees and mentors, who have been involved in the scheme.

The programme kicked-off in lockdown and has been successful in overcoming many of the challenges associated with mentoring virtually, as mentees and mentors have been able to engage in remote meetings, getting to know one another whilst providing professional support and development.

First up, we spoke to Samantha Lovell, an Angel Trains Contract Manager, who is being mentored by Susie Woodward-Moor, a Manager at HS2 Ltd.

Samantha commented: “I’ve thoroughly enjoyed being part of the Women in Rail programme and value the experience it has given me. Having regular catch-ups with Susie has not only allowed me to learn from and be inspired by a successful woman in the industry, but also to identify what I want to achieve in my career and how I can get there.

“Angel Trains has always been incredibly supportive of Women in Rail and this reflects the inclusive company culture we have, fostering confidence and aspiration in its employees.”

Class 720 Aventras from Bombardier Transportation

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We are proud to announce that we have accepted the first of our Class 720 Aventras from Bombardier Transportation as part of a £900 million procurement project for Greater Anglia.

Replacing the suburban fleets currently leased to the train operator, the new fleet of 665 state-of-the art vehicles will transform the passenger experience for thousands of commuters. With improved passenger features such as plug and USB sockets, air-conditioning, real-time information screens, improved accessibility, underfloor heating and passenger door safety features, the Class 720s will help provide a better travel experience for the future. We look forward to working with Greater Anglia and Bombardier UK to bring the first of the trains into passenger service later this year.

This milestone demonstrates our commitment to being the UK’s leading rolling stock asset manager, procuring and investing in sustainable assets that advances

#UKRail

#investment

Kevin Tribley announces his retirement

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London, UK – Today, Angel Trains, one of Britain’s leading train leasing companies, announces the forthcoming retirement of its CEO, Kevin Tribley, on the 1st September 2020, after 21 years with the business.

For over two decades, Kevin has been at the heart of Angel Trains’ success and industry-first investments – on its Board for 11 years, as Commercial Director, COO and CEO. Under Kevin’s stewardship, Angel Trains has undertaken an unprecedented programme of asset renewals and enhancements, including recent fast-tracked investment in innovation to deliver green rolling stock technologies.

Malcolm Brown, who led Angel Trains for ten years prior to Kevin’s appointment as CEO, will return to lead the business. Malcolm returns to Angel Trains from AMP Capital, where he has spent the past two years as a Partner in the infrastructure asset management team. Malcolm will once again lead a well-established senior management team, including David Jordan, COO, Alan Lowe, CFO, and Matthew Prosser, Technical Director.

Tom Smith, Chairman of Angel Trains, said:

We are indebted to Kevin for his contribution to Angel Trains. He has been instrumental to the success of the business and establishing it as a leading investor in UK rail. Kevin leaves the business in great shape to continue to invest in improving the passenger experience and addressing the decarbonisation agenda. While sad to lose Kevin, we are delighted Malcolm is returning. Malcolm led Angel Trains through one of its most successful decades and brings a deep understanding of the sector and industry. We are fortunate to have a CEO of Malcolm’s calibre and experience to take the helm.

Kevin Tribley said:

As I look ahead to my retirement, I am immensely proud to have been part of such a successful organisation and to have played my role in shaping the business and its achievements during my 21-year career at Angel Trains. I leave the company in very safe hands.

Malcolm Brown said:

Angel Trains has always been at the forefront of investment and innovation in UK rail, working alongside industry partners and government. I am delighted to be back with the business, and to continue the collaborative efforts needed to address industry challenges and realise the opportunities of an accelerated decarbonisation programme.

Angel Trains staff are now working from home

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Angel Trains staff are now working from home, in line with the recent Government advice.

We do not expect any significant impact on our business processes. 

If you need to contact us, please call or email your usual Angel Trains contact or email: reception@angeltrains.co.uk

Angel Trains signs £125m of Junior Debt Financing

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Angel Trains Group is very pleased to announce that it has priced and signed £125m of new junior debt. The transaction was directly arranged by Angel Trains on a fixed-rate basis and it has a delayed draw with a final maturity in 2027. The new junior debt will refinance £125m of existing junior debt which was also repaid in full today. 

Additionally, the strong liquidity position of the senior ring-fence group, which has resulted from previous financings, means that no new debt is required to repay the 2020 £300m public bond as it has already been refinanced on competitive terms and well ahead of schedule.

Alan Lowe, CFO of Angel Trains, said “We are very pleased to have executed this new debt which will further optimise our group debt facilities. Our debt structure is well diversified with an appropriate maturity whilst refinance risk has been mitigated for the foreseeable future. Angel Trains remains in a strong position to invest further to grow its portfolio and remain the leading lessor of passenger rolling stock in the UK.”

Angel Trains signs £50m of Junior Debt Financing

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Angel Trains Group is pleased to announce that £50m of new junior debt has been signed. The transaction was directly arranged between Angel Trains and a single lender. The proceeds from the new financing will be used to fund new trains or capital expenditure for existing trains.  The transaction demonstrates continued commitment from the financial community across the capital structure of Angel Trains and it will afford further headroom to invest within the asset portfolio.

Angel Trains celebrates 25 years as a leading investor in the UK rolling stock market

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London, UK – industry professionals from across the railway sector gathered at the iconic Postal Museum to celebrate 25 years of Angel Trains. The event celebrated key milestones from the past, including investments of over £718 million for Siemens Desiro commuter trains, £977 million in 583 Pendolinos, £835 million on 665 Bombardier Aventra vehicles and £232 million to supply Inter-City bi-mode trains to TransPennine Express.

The occasion celebrated Angel Trains’ 25-year legacy, responsible for committing over £5 billion into new-build and refurbishment projects and supporting thousands of skilled jobs across the UK.

The company thanked shareholders and funders – who supported Angel Trains to raise and refinance in excess of £10bn – customers, suppliers and all stakeholders for the success of the company. Together, Angel Trains has greatly enhanced passenger experience through improvements to its fleets and been central to the modernisation, innovation and management of the UK’s rolling stock.

Kevin Tribley, CEO of Angel Trains acknowledged defining moments inAngel Trains’ history:

“With our unrivalled finance and engineering expertise at every level of our business, we’ve been at the forefront of many industry-firsts – from the introduction of tilting trains, to record-breaking investments and, now, the first conversion of a diesel-powered train to hybrid drive. We’ve reached these milestones together – working in partnership with industry colleagues around this room.”

Kevin Tribley outlined a visionary outlook for the future of the business. He highlighted that the industry is resilient and, as a key driver of the UK economic growth, Angel Trains can evolve and remain successful. He commented:

“I am fully confident Angel Trains can not only meet the future challenges head on but be at the heart of the solutions – on everything from delivering a low carbon railway to boosting passenger satisfaction through new rolling stock innovations.”