PowerRail Announces Strategic Partnership with New Heritage Capital

EXETER, Pa.--(BUSINESS WIRE)--PowerRail, North America’s leading manufacturer and global distributor of aftermarket locomotive parts, today announced a strategic partnership with and investment from New Heritage Capital (“Heritage”), a Boston-based private equity firm specializing in founder-owned businesses. The investment was structured using Heritage’s Private IPO^® solution, which preserves operational control for PowerRail’s management team while providing capital for accelerated growth. Terms of the transaction were not disclosed.

Founded in 2003, PowerRail is a premier provider of aftermarket locomotive parts and components, remanufacturing services, and engineering solutions serving the global rail industry. The company is committed to delivering high-quality products, reducing lifecycle costs, and supporting sustainable rail operations.

“This is an exciting new chapter for us,” said Kevin Wright, CEO of PowerRail. “With the support of New Heritage, we will be better positioned to scale our operations, expand our product portfolio, pursue strategic acquisitions, and continue delivering exceptional value to our customers. Most importantly, our core mission and customer-first approach will remain unchanged.”

Wright also noted that Paul Foster, the company’s founder and former CEO, will continue as the Chairman of PowerRail’s Board of Directors. “Paul built this company from the ground up and has devoted the past 23 years to its success,” said Wright. “We are grateful for everything he has done for PowerRail and the rail industry. Though Paul will no longer serve in an operating role, his counsel and strategic vision will continue to help guide PowerRail in advancing its core mission.”

Bret Kuchenbecker, Principal at Heritage, added, “PowerRail’s breadth of products, technical capabilities, and reputation for service have made it a trusted leader in the locomotive aftermarket. We are excited to partner with the founder and management team to support the company’s next phase of growth. Through capital and strategic support, we will help management continue to expand PowerRail’s ability to serve its customers.”

About PowerRail

PowerRail is a premier provider of aftermarket locomotive parts and components, remanufacturing services, and engineering solutions serving the global rail industry. Operating from distribution and manufacturing facilities across the U.S., PowerRail offers a wide range of new and rebuilt locomotive-related parts and components, including bearings and journal boxes, electrical rotating parts, engine components, compressors, pumps, motors, and other related components. For more information, please visit www.epowerrail.com.

About New Heritage Capital

New Heritage Capital is a Boston-based private equity firm with a twenty-two-year track record of partnering with growing, middle-market, founder-owned businesses. Through innovative investment structures like the Private IPO^®, Heritage provides founders with liquidity and growth capital while preserving operational control. The firm’s strategic, operational, and financial guidance helps portfolio companies achieve their growth objectives. To learn more, please visit www.newheritagecapital.com.