The origins of Europhoenix can be traced to its founder, Glenn Edwards, and
Electric Traction Limited, which the company formerly traded as prior to being rebranded. Europhoenix established a workshop at
Long Marston to perform repair and reactivation work on the type. Following the fulfilment of the Bulgarian Railway Company contract, there were still Class 87s in long term storage at Long Marston with no set purpose; Europhoenix set about seeking customers for some of those locomotives, while those beyond economic repair were gradually scrapped. During September 2008, Europhoenix purchased 23
Class 86 electric locomotive that had been stored by the rail leasing company
HSBC Rail. These underwent an extensive refurbishment programme at Long Marston by Europhoenix's engineering team. During May 2016, a further six Class 86s were sold to Bulmarket, which included a pair of locomotives that had been previously operated in the UK by Electric Traction Limited. These Bulgarian-destined Class 86s were subject to further alterations upon arrival. The former two were returned to service during 2015 and 2016 after their overhaul by the
Harry Needle Railroad Company and
UK Rail Leasing, they were leased to the
Rail Operations Group. During 2016, a further five Class 37s (37503, 37510, 37608, 37611 and 37670) were purchased from the freight operator
Direct Rail Services. Originally, Europhoenix had intended to market its Class 37s for the spot-hire market; however, it was found that there was enough interest in the type to keep the locomotives busy on a near-permanent basis. Accordingly, by 2018, the whole fleet had been subject to a full rebuild. Plans to export the type to Bulgaria were underway at one stage, but these were reportedly disrupted by the
COVID-19 pandemic; by February 2022, Europhoenix was still seeking opportunities on continental Europe for its Class 91s, having concluded that there was little work available in the British railway market for the type. ==Livery==