IPEX were contracted to provide Technical Due Diligence services to a financier interested in the sale of a European locomotive lessor and maintainer. The client required our support to analyse the business including its complicated business structure, pan-European maintenance network and large fleet distribution. Our expertise in maintenance and rail business management allowed us to identify risks and opportunities with the business, including significant operational cost savings. Our client was successful in their bid and acquired the target business and its assets. The cost savings we identified allowed our client to build a reliable business case which they implemented successfully when taking control.