Wow, the company that owns the Skunk Train line changed hands last month, what will Hart family role be going forward? We don’t know but are asking
A press release issued on PR Wire gives stunning news- a new company is stepping into a key ownership position of the Skunk Train Line, , a merger that has been represented in the railroad media as a buyout of the Hart family run Sierra Railroad, which rescued the Skunk from Bankruptcy 25 years ago and has owned the line ever since. The merger is not mentioned on the Sierra websites so far and we are working on interpreting it. Will it mean more money for us here on the Coast? We don’t know right now. We have also contacted Ridgewood Infrastructure, a company that runs funds that own and manage private water systems, railroads, airport facilities and other infrastructure.
What could the press release mean locally? Chris Hart, told us the merger will not mean that Ridgewood will be changing things in Fort Bragg.
“Good morning Frank, I do not believe the Ridgewood Infrastructure transaction will have a negative impact on Mendocino Railway’s operations in Mendocino County. Mendocino Railway’s officers, directors, and shareholders haven’t changed. Ridgewood has no involvement here,” Chris Hart said.
Robert Pinoli , president and CEO of Mendocino Railway, disagreed with our take on the merger. We are discussing that and will continue to update the story.
“Mendocino Railway’s officers, directors, and ultimate shareholders remain the same as what they were, the sale of the other operations have no impact on Mendocino Railway. I have no reason to think that Chris Hart wouldn’t be involved locally, he moved here specifically to work on the millsite project. The tunnel remains a high priority for us and we’re committed to our continued efforts there.”
The Skunk is actually owned by a Sierra subsidiary, Mendocino Railway, which wouldn’t have any visible change from the merger. The merger sounds much more like the larger company is buying out Sierra and is being interpreted that way in the railroad press covering this and has been widely called a “buyout”. But we won’t know how the Hart family plays in until we hear from them. Could the arrival of a larger financial company with a broader range of experience operating all kinds of infrastructure be good news? Could it mean the new money can finally fix the tunnel whose collapse cut the line in half and now isolates the Fort Bragg Station?
We only heard about the sale reading Mendocino Local News by Elise Cox but it was announced a month ago. The news hit locally a month late and nobody in the larger press has gone into as much detail as MendoLocal did and now us, both a month late. Cox documented (story below) how the board of directors was constituted and ownership restructured- also sounding more like a buyout than merger. But we will be continuing to talk to the parties.
The press release doesn’t mention the Skunk Train, but Mike Hart, the key figure in Sierra Railroad (brother of Chris Hart), said the company had to get deeper financial pockets to continue its plans.
“In selecting a partner for Sierra, it was critical to find an investor with the sector expertise, aligned strategic perspective, and financial capacity to support the company’s next phase of growth,” said Mike Hart, Founder of Sierra Railroad Corporation who has led the company since its acquisition in 1995. “Sierra had reached a point where meaningful near-term investment was required to pursue identified opportunities.”
We have reached out to Robert Pinoli, Chris Hart and the new owners. Hope to have an update soon.
Other articles about this:
Ridgewood Infrastructure Acquires Sierra – Railway Age
Private Equity Acquires Skunk Train Owner, Settlement Talks Continue with Fort Bragg
Ridgewood Infrastructure Acquires Sierra Railroad Company
NEW YORK, March 10, 2026 /PRNewswire/ — Ridgewood Infrastructure, a leading investment firm focused on essential infrastructure in the United States, today announced that it has acquired a controlling interest in Sierra Railroad Company (“Sierra”), a California-based shortline rail platform providing freight rail, switching, storage, and transloading services to a diversified customer base across key essential industrial, agricultural, and energy supply chains. Simultaneously with Ridgewood’s investment Sierra is acquiring Central Valley Ag Transport (“CVAT”) an agricultural products transload facility owner and operator serving customers along Sierra’s rail network.
Sierra’s operating subsidiaries include Sierra Northern Railway (“Sierra Northern”), which owns and operates the freight rail business and provides switching, storage, and transloading services across approximately 130 miles of track in California. Sierra Northern’s network is strategically located near core dairy and agricultural regions, major West Coast ports, and industrial demand centers, enabling critical last-mile connectivity across essential supply chains.
Sierra Northern benefits from strategically located Class I interchanges, including access to both Union Pacific Railroad and BNSF Railway, providing customers with enhanced network redundancy, routing flexibility, and connectivity to national rail markets.
The transaction also includes Sierra’s subsidiary Railpower, Inc., which owns and operates the only Federal Railroad Administration (“FRA”)–approved hydrogen-powered locomotive in the United States, reflecting Sierra’s leadership in rail innovation and zero-emissions locomotive technology.
The acquisition of CVAT strengthens Sierra’s platform by vertically integrating agricultural transload capabilities that are essential to California’s dairy and broader agricultural industry. CVAT provides specialized transloading services along Sierra Northern’s network, enabling efficient movement of feed and agricultural products while deepening customer relationships and increasing rail utilization.
“Sierra is a high-quality shortline rail platform with strong fundamentals, a diversified customer base, and a strategic footprint in some of California’s most important industrial and agricultural corridors,” said Ryan Stewart, Partner at Ridgewood Infrastructure. “Our team brings deep experience owning and operating shortline and other railroad businesses across the United States, and we see meaningful opportunities to build on Sierra’s strong foundation by driving additional freight volumes for both existing customers and new customers, expanding transload capabilities, and supporting innovation across the platform.”
“This partnership with Ridgewood marks an important next step for Sierra,” said Kennan H. Beard III, Chief Executive Officer of Sierra Northern. “Ridgewood’s experience operating rail and infrastructure businesses, combined with their investment approach, gives us the resources and support to accelerate execution across the platform. We are focused on growing volumes, expanding transload capacity, and continuing to serve our customers with the reliability and responsiveness they expect.”
“In selecting a partner for Sierra, it was critical to find an investor with the sector expertise, aligned strategic perspective, and financial capacity to support the company’s next phase of growth,” said Mike Hart, Founder of Sierra Railroad Corporation who has led the company since its acquisition in 1995. “Sierra had reached a point where meaningful near-term investment was required to pursue identified opportunities.”
“Ridgewood stood apart as a differentiated, value-added partner with a deep understanding of the rail industry and a proven track record of building lower middle-market infrastructure businesses,” Mr. Hart added. “Their experience and approach made them the right long-term owner for Sierra, and I am pleased to remain a significant investor alongside Ridgewood.”
Ridgewood was advised by King & Spalding and Truist Securities. Sierra was advised by Northborne Partners. Debt financing for the transaction was provided by Brookfield Infrastructure Credit.
About Ridgewood Infrastructure
Ridgewood Infrastructure invests in essential infrastructure businesses across the transportation, energy, utilities, and industrial sectors. The firm focuses on assets that provide critical services, exhibit durable demand, and offer opportunities for value creation through operational improvement and strategic growth.
About Sierra Railroad Company
Sierra Railroad Company is a California-based rail platform whose subsidiaries include Sierra Northern Railway, a shortline freight rail operator providing switching, storage, and transloading services across approximately 130 miles of track; and Railpower, Inc., a hydrogen locomotive business.
About Central Valley Ag Transport
Central Valley Ag Transport is an agricultural products transload operator serving dairy farmers and agricultural customers along Sierra Northern Railroad’s network.
Contact info:
For More Information:
Ridgewood Infrastructure
527 Madison Avenue, 18th Floor
New York, NY 10022
Phone: (212) 867-0050
Inquiries@RidgewoodInfrastructure.com
