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 on PR Wire announced a stunning development: a new company is stepping into a key ownership position in the Skunk Train line. Railroad‑industry outlets are already describing the move as a buyout of the Hart family–run Sierra Railroad, which rescued the Skunk from bankruptcy 25 years ago and has owned it ever since. The merger does not yet appear on any Sierra Railroad websites, and we are still working to interpret what the change actually means.
One immediate question for the Mendocino Coast is whether this new ownership structure could bring more investment or resources to Fort Bragg. At this point, we simply don’t know. We have also contacted Ridgewood Infrastructure, the firm involved in the merger. Ridgewood manages private water systems, railroads, airport facilities, and other infrastructure assets across the country.
What could this mean locally? Chris Hart told us the merger will not result in Ridgewood changing operations 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 owned by Mendocino Railway, a subsidiary of the Hart family–run Sierra Railroad, and that structure would not visibly change under the merger. What the railroad press is describing instead is a buyout of Sierra itself — a much larger shift that could determine who ultimately controls the parent company. How the Hart family fits into the new arrangement won’t be clear until they speak publicly. The arrival of a larger infrastructure‑focused financial firm raises local questions: could deeper capital finally address long‑deferred needs, including repairs to the collapsed tunnel that has split the line and left the Fort Bragg station isolated? It remains uncertain for now.
We first learned of the sale through reporting by Elise Cox at Mendocino Local News, even though the merger was actually announced a month ago. The news reached the Coast late, and so far no larger outlet has gone into the level of detail that MendoLocal did — and now us — even if both stories are arriving weeks after the fact. Cox documented, in the story below, how the board of directors was reconstituted and ownership restructured, a pattern that also reads more like a buyout than a simple merger. We will continue speaking with the parties involved as we work to understand the full implications.
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
