Eversheds Sutherland advises John Laing and Rock Rail on €800 million German rolling stock investment

The project reached financial close in April 2026 and represents a significant investment in modern, low emission rail infrastructure in Germany. 

Once in service, the battery electric fleet is intended to replace existing diesel rolling stock on the network, supporting quieter, cleaner and more efficient regional rail services and contributing to wider rail decarbonisation objectives.

This investment marks John Laing’s entry into the German rolling stock market and further expands Rock Rail’s growing portfolio of regional rail assets in Germany, reflecting continued demand for long term private capital solutions to support sustainable transport infrastructure.

The transaction was led by the London Energy & Infrastructure Finance team including partners Alex Carver and Peter Greenall, with support from associates Jack Mitchell, Bila Bawazier and Lorenzo Collett. The team was supported by Daniel Ehret and Maren Raband, advising on the German law finance aspects and Deepesh Upadhyay for the tax advice.

Alex Carver, Partner, Eversheds Sutherland, commented: "We are delighted that our combined UK-Germany team has completed its third rolling stock project in the last 12 months. It was great to close such a large and complex financing."

Steve Knapman, Greenfield and European Investments at John Laing, commented: “Eversheds Sutherland provided clear, commercial and effective advice throughout the financing and close for this complex rolling stock transaction, helping us manage lender and stakeholder interfaces. Their experience in previous rolling stock projects was instrumental in getting the transaction over the line.”