Deal Team: T.J. Murphy, Sean Small, Sydney Sullivan Nicklas, Douglas Maccaferri, Sarah Hunt Broughel, Julia Zabriskie, Kevin Jarboe, Kevin Sarro, Ankoor Desai, Elizabeth Powers, Adam Zaiger, David Mollo-Christensen, Nicholas Calabraro, Stefano Sharma, Bob Buchanan, Daniel Woods, Nicholas Shamberger, Kevin Finnerty Choate represented New Heritage Capital in its strategic partnership with and investment in PowerRail, North America’s leading manufacturer and global distributor of aftermarket locomotive parts. 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. 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.