Northrail concludes sale-and-leaseback agreement with Mindener Kreisbahnen for two Vectron Dual Mode locomotives

Northrail, lessor, asset manager and developer of innovative investments for rail vehicles, has concluded a sale-and-leaseback agreement with Mindener Kreisbahnen for two powerful Vectron Dual Mode locomotives. With this transaction, Northrail underscores its expertise in flexible financing solutions and the provision of state-of-the-art rolling stock.

Hamburg, 8 September 2025 – Northrail and Mindener Kreisbahnen (MKB) signed the purchase agreement and leaseback agreement for two Vectron Dual Mode locomotives on 30 July 2025. The locomotives were handed over immediately afterwards on 1 August 2025. This move deepens the cooperation between the two partners and sets an example for sustainable financing models in rail transport.

‘The conclusion of this agreement shows how we can give our customers financial flexibility through tailor-made sale-and-leaseback solutions while at the same time ensuring a modern vehicle fleet,’ says Dr Volker Simmering, Chief Executive Officer of Northrail. ‘With this model, we offer not only liquidity advantages but also planning security in daily operations.’

MKB also sees clear added value in the partnership: ‘This step represents a strategic advancement of our fleet strategy. Through the sale and leaseback, we not only continue to secure access to modern traction units but also strengthen the financial flexibility and future viability of our company,’ explains Dominik Breitkreutz, Managing Director of MKB.

With this deal, Northrail is also further expanding its position as the largest lessor of Vectron Dual Mode locomotives in Europe. The Northrail fleet now already comprises 43 of these innovative hybrid locomotives.

In addition, a framework agreement for 50 Vectron locomotives was signed with Siemens Mobility at the beginning of this year. Initially, 15 Vectron Dual Mode locomotives were ordered, followed by two more in August 2025. This brings the total order to 17 vehicles of this type, which are expected to be delivered from July 2026 onwards. Northrail is thus making an important contribution to the modernisation and decarbonisation of rail freight transport.

Northrail is one of Europe's leading rolling stock leasing companies, asset managers and developers of innovative rolling stock investments. 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. Northrail's managed fleet includes state-of-the-art electric, dual-mode and hybrid locomotives, battery-powered regional trains, as well as traditional shunting and universal locomotives. Northrail also develops tailor-made leasing services for its clients and organizes the maintenance of leased vehicles based on its ECM I to III licence. Northrail, headquartered in Hamburg (Germany), currently employs around 50 people and is a subsidiary of RIVE Private Investment, an independent European investment firm with offices in Paris, Luxembourg, and Geneva, specializing in transportation assets and energy transition.