PowerRail Announces Strategic Partnership with New Heritage Capital
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.”
