FCP advised DfT Rail Group on maximising third party funding for UK rail projects, in particular for stations. Our work focused on:

  • understanding the funding landscape;
  • identifying barriers to third party investment in rail; and
  • outlining solutions, including improvements to industry guidelines.

We generated strong interest from the rail community, consulting with developers, Local Authorities, LEPs, regional transport bodies, infrastructure pension funds, TOCs, ROSCOs, financial institutions, DfT, ORR, HM Treasury, Network Rail and other private-equity sources.

We undertook due diligence in support of the acquisition of Chiltern Railways by Deutsche Bahn, the German state railway operator, and advised Deutsche Bank on their acquisition of Angel Trains, the largest rolling stock leasing company in the UK with a value in excess of £1.5 billion.

FCP also managed the investor programme interface for the PPP between the Saudi Government and a UBS-led consortium to fund construction of the Saudi Landbridge and Makkah-Maddinah railway projects.

Our Commercial Advisory and Transaction Services include:

Bid direction and management
We provide fully or partially outsourced development and delivery of transport sector bids, producing tailored bid models and processes from specification, through evaluation, to mobilisation & management.
Business case development
We develop full transport business cases and supporting cost, revenue and performance models.
Contract development and negotiation
We work alongside specialist transport and infrastructure lawyers to develop and negotiate viable contracts for delivery of the operation, maintenance, construction, financing and equipping of transport networks.
Cost estimating
Our consultants advise on the cost inputs and dynamics in passenger and freight rail, including rolling stock procurement, operations and maintenance, and staffing. We also understand the impact on cost of infrastructure changes / upgrades and performance regimes.
Demand and revenue forecasting
We have significant strength in demographic and economic forecasting in support of demand and revenue modelling and forecasting. We are regularly relied on to develop initiatives for new revenue sources and for improved revenue protection and profitability.
Due diligence
We undertake technical, commercial and operational due diligence for programmes and individual assets and projects.
Financial modelling
Our finance consultants build simple and complex financial models for all types of rail programmes and transactions.
Investment appraisal
We undertake technical, commercial and operational expert scrutiny of investment cases.
Major infrastructure projects
We prepare feasibility studies and supervise engineers preparing plans for railway upgrading, electrification and for new railways. We identify ways to improve economic and financial viability, reduce costs and risks, mobilise and manage resources, accelerate delivery and increase wider benefits to improve overall value.
Procurement
We specify and procure the refurbishment, new build and maintenance of all types of railway systems, including infrastructure, control systems and rolling stock. FCP is particularly experienced in supporting and designing the procurement of railway operating contracts, including concessions and franchises.
Programme/project management
Our consultants are experienced in programme and project management, from large, complex new builds and extension programmes to minor asset procurement.
Project finance and funding
We are experienced in the identification of, and support for, new sources of transport funding.
Project sponsorship
We lead and support clients’ project sponsorship activities as new and enhanced transport infrastructure and services are delivered.
Public Private Partnerships
We provide expert advice on the structuring and implementation of transport PPPs. Our consultants do so by drawing on experience gained during preparation and evaluation of over 50 heavy rail, light rail, metro and bus networks in the UK, Europe, North America and Australasia.