Dalmore and Equitix to acquire 3i Infrastructure’s stake in Cross London Trains. Credit: Alex Nevin-Tylee.

Investment firm 3i Infrastructure has agreed to divest its 33.3% stake in Cross London Trains (XLT) to a consortium of Dalmore and Equitix funds for £333m.

XLT was established in 2011 to procure and lease trains for use on the Thameslink passenger rail franchise. The company owns a fleet of 115 Siemens Desiro City Class 700 trains.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The establishment of XLT was part of the government’s £7bn infrastructure investment to alleviate traffic congestion between London and the South East.

Commenting on the deal, 3i Infrastructure chairman Richard Laing said: “XLT has proved a very good investment for the company, generating significant value for our shareholders.

“XLT is an excellent fit for our investors and further strengthens our position in the UK rolling stock market.”

“Having supported the project through design, manufacturing and delivery, we believe that now is an appropriate time for the company to realise its stake.”

According to 3i Infrastructure, the value of the stake sold to the consortium was £271m on 30 September last year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The sale is subject to certain third party approvals.

Equitix CEO Geoff Jackson said: “We are very pleased to have secured an interest in XLT which builds on our existing portfolio of high-quality rail assets like HS1, Inter-City Express Programme West and Wales and Borders rolling stock.

“XLT is an excellent fit for our investors and further strengthens our position in the UK rolling stock market.”

XLT is currently in the final stages of procuring 1,140 carriage units to operate on the Thameslink corridor.

The addition of the new vehicles is expected to increase service reliability across the corridor and add capacity for 60,000 additional peak passengers.