{BUSINESS WIRE} – August 11, 2026 – 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.
The above quote is provided by Kevin Wright, CEO of PowerRail. Mr. Wright is not an investor in any New Heritage Capital fund and was not paid for the quote included above. However, due to his position at PowerRail, he may be inclined to have a favorable view of New Heritage Capital.