DC Advisory advises DWS and Infracapital on the sale of Corelink Rail Infrastructure Limited

Background

• Corelink Rail Infrastructure Limited (CRIL) was established by Infracapital and DWS to procure and lease rolling stock for use on the West Midlands passenger rail franchise
• The CRIL fleets were procured in 2017, comprising 84 x Class 730 Alstom Aventra EMUs and 26 x Class 196 CAF Civity DMUs
• The CRIL fleet was designed to increase capacity and improve passenger service in the West Midlands, enhancing the passenger journey experience on both local Birmingham routes and the London commuter route
• Based on proven technology from successful Alstom and CAF platforms, the fleets’ innovative features aim to set a benchmark for commuter rail services in the UK

Process

• DC Advisory was appointed as exclusive financial advisor by DWS and Infracapital to provide sell-side advice on the sale of CRIL, having previously advised the parties on their successful refinancing of CRIL in 2022
• DC Advisory leveraged its deep sector expertise and sell-side experience to successfully deliver several detailed work streams, including process structuring, advice on transaction documentation, and supporting with buyer negotiations
• DC Advisory ran a tailored and competitive process, structured around company and sectorial developments, which resulted in interest from both strategic and financial investors

Outcome

• In January 2026, DWS and Infracapital sold their 100% combined shareholding in CRIL to a member of the Porterbrook group
• This transaction demonstrates DC Advisory’s deep expertise in the transportation and rail sectors, further strengthening DC Advisory’s track-record of successfully advising on high-value transportation transactions