Macquarie European Rail

In November 2012, Lloyds opted to sell its rail leasing arm to the financial services specialist Macquarie Group.

Prior to deciding to form its own subsidiary focused on the sector, Lloyds had effectively involved itself already through its participation in the consortium that acquired the rolling stock company (ROSCO) Porterbrook during October 2008.

[4][5] Another early venture undertaken by Lloyds TSB was the financing of 20 American-built Class 70 heavy freight locomotives which it leased to Freightliner.

[8][9] In December 2016, an article in the Financial Times gave warning of signs of overheating within the highly competitive ROSCO sector, pointing to Macquarie's relatively youthful Class 379 EMUs as an example of rolling stock that may have trouble finding future work on Britain's railways as yet newer types are rapidly introduced.

Furthermore, it also comprised multiple units, such as the 30 Bombardier Class 379 EMUs then on lease to Greater Anglia, 16 Stadler GTW DMUs in the Netherlands, and 110 assorted wagons.