Stevens & Bolton has advised Rock Rail on its equity co‑investment alongside John Laing, backed by KKR, in the financing, manufacture, leasing and long‑term maintenance of a fleet of 61 new two‑car battery electric trains for the Westfalen regional rail network in Germany.
The project will deliver the second largest fleet of battery‑powered trains in Germany and represents a major milestone in the decarbonisation of regional passenger rail. Replacing conventional diesel rolling stock, the new battery electric trains will significantly reduce emissions while maintaining high standards of performance and reliability for passengers across the network.
The trains are scheduled to enter passenger service in December 2029 and will play a central role in supporting Germany’s wider transport sustainability objectives, as public authorities and operators accelerate the transition towards lower‑carbon rail solutions.
James Floyd, corporate partner at Stevens & Bolton, commented:
“We are delighted to have supported Rock Rail on this landmark battery electric train project, which demonstrates the continued momentum behind innovative and sustainable investment in European rail infrastructure. The transaction brings together an experienced sponsor group and we are delighted to have made a positive contribution to the decarbonisation of German regional passenger transport.”
The Stevens & Bolton team was led by James Floyd (corporate) and Andrew Dodds (banking) and included Ulug Gomes‑Pessoa, Jake Joyce and Stephen Demery. Rock Rail was advised on project financing by Eversheds Sutherland and on commercial by K&L Gates (Frankfurt). Other legal advisers included Norton Rose Fulbright (for John Laing) and CMS (for the lenders).
