Eversholt Rail Group

Eversholt Rail Group is a British rolling stock company that, along with Angel Trains and Porterbrook, was one of the firms created from the privatisation of British Rail. Formed in March 1994, the firm was privatized the following year via a £580 million management buyout.

Sold to Midland Bank and renamed twice (Forward Trust and HSBC Rail), it operated primarily in the UK market, although the latter was active in the European leasing market in the 2000s, after the UK business had been split off and sold. Subsequently, the European leasing business was sold to rival leasing Beacon Rail and what had been the UK part was then also ultimately also purchased by Beacon Rail, later - effectively re-merging the operations.

Involved in supplying 28 British Rail Class 395 high speed train sets under a £250 million contract, HSBC Rail also submitted an unsolicited and dismissed response to the Intercity Express Programme. During the 2010s, it focused on either selling or retrofitting aging elements of its rolling stock fleet.

After being rebranded back to Eversholt Rail Group in 2010 and being sold to private financial companies, it was acquired five years later by CK Hutchison Holdings and Cheung Kong Infrastructure Holdings. On January 26, 2026, ERG was acquired by Beacon Rail.