Akiem technical due diligence

In 2022, DWS and SNCF commenced a process to divest up to 100% of their interests in European rail vehicle leasing company Akiem. Akiem is a leader in the market with more than 600 locomotives and a fleet of more than 140 passenger vehicles operating in the UK and across the European mainland on the standard gauge network. UK investor J P Morgan Infrastructure Investment Fund entered the bidding process to acquire Akiem and retained IPEX as Technical Advisors across the NBO and BO phases. IPEX provided an expert team and conducted Technical Due Diligence during the bid which included a technical review of the extensive asset portfolio, vendor material review, a review of vehicle maintenance programmes, support in vendor meetings, collaborating with the wider advisory team, and a site visit to Akiem's maintenance facility in Krefeld, Germany. This work helped JPM IIF to understand the key technical risks and upsides of the investment opportunity to inform their bid.