Through the 2010s, the company expanded its presence with a series of acquisitions, buying up rolling stock of the Royal Bank of Scotland (RBS) and Société Générale.

New-build locomotives and multiple units were also bought in from manufacturers such as Stadler Rail and Alstom, while existing assets were subject to retrofits to improve their capabilities.

In June 2008, Angel Trains was acquired by a consortium of Babcock & Brown, AMP Capital, Arcus European Infrastructure Fund and Deutsche Bank at a reported cost of £3.6 billion.

[10] In June 2018, it was announced that the launch customers for the Stadler Euro Dual electro-diesel locomotive were the French freight operator VFLI and Alpha Trains; at the time, a total of 30 of the preceding Stadler Euro series of locomotive were in Alpha Trains' inventory, being leased to Spanish and Portuguese rail freight operators.

[15] That same month, the firm launched its new AlphaNow customer portal, allowing operators to book individual locomotives via a live and transparent website.