RIVE Private Investment fosters its commitment to the decarbonization of land transportation

Paris, November 18, 2024. RIVE Private Investment (RIVE), an independent European investment firm managing over €1 billion in assets across the energy transition and transportation sectors, announces the signing of a purchase agreement with Vossloh Rolling Stock. The agreement covers the acquisition of 10 DE18 locomotives, approved for operation in Sweden and Norway, with an option to purchase 10 additional units.

RIVE is therefore continuing its strategy of investing in innovative rail assets through its partnership with Vossloh Rolling Stock, a global rolling-stock manufacturer, and Northrail, a leading leasing provider and manager of rolling stock in Europe. Acquired by RIVE in early 2024, Northrail is in charge of technical and commercial management of the entire fleet.

Through the acquisition of these locomotives, RIVE will strengthen its geographical exposure in Scandinavia while supporting the operators in renewing their overaged fleet by leasing reliable shunting locomotives benefiting from the latest environmental and safety regulations and higher technical availability.

These DE18 locomotives will be the first of their type to be homologated for the Scandinavian markets and will be equipped with the latest version of the European Train Control System (ETCS) in line with the ambitious ETCS implementation plan in Scandinavia. The locomotives will be equipped with a Stage V engine complying with the latest EU emissions standards together with additional equipment to further minimize their environmental impact including Hydrogenated Vegetable Oils (HVO) fuel compatibility. Operators replacing their overaged shunting assets by these factory-new DE 18 locomotives could save up to 40% on their GHG emissions.

This new investment is in line with RIVE’s investment strategy to support the decarbonization of land transportation by improving rail efficiency via the financing and leasing of innovative, reliable, and energy-efficient rolling-stock assets, in fine contributing actively to the modernization of the existing, ageing, and fuel-intensive fleet.

Camille Brunel, Partner at RIVE in charge of Transportation:

“Bringing such innovative locomotives as DE 18 to Swedish and Norwegian markets supports decarbonization of land transportation by improving rail efficiency. We are delighted to be contributing to these efforts by providing financing via our RIVE Tangible Assets Income Fund”.

Michael Trentzsch, Chief Investment Officer and Chief Commercial Officer of Northrail AG:

“This acquisition represents another milestone in our internationalization strategy and opens up new opportunities for us in the very attractive Scandinavian market. We are convinced that this is the ideal time to invest in this market and see a great need for modern, low-emission locomotives in Sweden and Norway. With the DE 18 locomotives, we can meet this demand and sustainably expand our service offering in both countries.”

Henrik Egeter, Managing Director of Vossloh Rolling Stock GmbH:

“Northrail’ and RIVE’s move underlines not only their confidence in our technology but also the importance of sustainable and efficient solutions for the rail industry in Scandinavia. That is why we are equipping the DE 18 locomotive with a climate-focused performance package that impresses with its strong traction performance and reliable ease of use.”

ABOUT RIVE PRIVATE INVESTMENT

RIVE Private Investment is an independent European investment firm specialized in transportation assets and energy transition. Founded in 2013, RIVE currently manages over €1 billion of assets and has completed more than 100 transactions. The RIVE team consists of 26 professionals based in Paris, Luxembourg, and Geneva.

RIVE, through its RIVE Transportation Assets Income Fund (RTAIF), invests in assets contributing to the decarbonization of the transportation sector and/or serving essential needs, such as rail, specialized aviation (medical, firefighting, and rescue, etc.), and specialized maritime (electric ferries, support for offshore wind parks, etc.). Since its launch in mid-2021, RTAIF has deployed over €300 million in 10 countries.

ABOUT NORTHRAIL

Northrail, headquartered in Hamburg, Germany, is a leading leasing provider and asset manager of rolling stock in Europe. Northrail manages a portfolio of approximately 430 vehicles, including around 250 locomotives and around 180 multiple units and passenger coaches, for freight and passenger transport in Europe, with an investment volume of close to 1.5 billion euros.

In addition, Northrail develops and structures innovative railway investments for and with international partners and institutional investors. The fleet under Northrail’s management includes traditional shunting and universal locomotives as well as state-of-the-art electric and hybrid locomotives and battery-electric regional trains. In addition, Northrail develops tailor-made rental services for its customers and organizes the maintenance of the vehicles.

ABOUT VOSSLOH ROLLING STOCK

Vossloh Rolling Stock has opened a forward-looking chapter in 2020 by moving under the umbrella of its parent company CRRC ZELC. This strong connection lays the foundation for significantly expanding its product range and driving forward technological innovations and sustainable concepts even faster. Vossloh Rolling Stock benefits from economies of scale in production and investments in its manufacturing and service capacities. Today, Vossloh Rolling Stock covers the entire value chain of a locomotive – from locomotive design and engineering to platform production in a state-of-the-art manufacturing facility and customized service with all ECM functions.

As one of the leading locomotive manufacturers in Europe and as a company steeped in tradition with more than 150 years of expertise in locomotive construction, Vossloh Rolling Stock is committed to sustainable mobility – through far-sighted and decisive action, in constant dialogue with its customers.

Press contacts:

Bénédicte Debusschere – b.debusschere@bcadvisory.fr – +33 6 48 56 70 71
Victoria Wojtczak – v.wojtczak@bcadvisory.fr – +33 6 79 75 01 66