New Heritage Capital invests in PowerRail, a locomotive parts maker
PowerRail, a Pennsylvania maker and distributor of aftermarket locomotive parts, takes an investment from Boston firm New Heritage Capital; terms undisclosed.
PowerRail, based in Exeter, Pennsylvania, announced a strategic partnership with and investment from New Heritage Capital, a Boston-based private equity firm focused on founder-owned businesses. The investment was structured using Heritage's Private IPO solution, which keeps operational control with PowerRail's management team. Terms were not disclosed.
PowerRail CEO Kevin Wright said the capital will help the company scale operations, expand its product portfolio and pursue acquisitions. Founder Paul Foster, who was CEO, will no longer hold an operating role and will remain Chairman of the board. Heritage principal Bret Kuchenbecker said the firm will support management's next phase of growth.
Deal facts
- Target
- PowerRail
- Business
- Manufacturer and global distributor of aftermarket locomotive parts, remanufacturing services and engineering solutions for the rail industry
- Buyer
- New Heritage Capital
- Sponsor
- New Heritage Capital
- Deal type
- Investment
- Headquarters
- Exeter, PA
- Status
- Announced, not yet closed
- Announced
- Tuesday, August 11, 2026
Sources
- Business Wire via Yahoo FinanceAug 11, 2026
- privateequityinternational.comAug 11, 2026
Written by Buyout Desk from the sources above. Spotted an error? Email corrections@buyoutdesk.com.