The Amlon Group Acquires Mastermelt America LLC (Now Amlon Sweetwater)

Heartwood Partners Makes Growth Investment in The Amlon Group

July 21, 2022

Environmental Services

Heartwood Partners completed a growth investment in The Amlon Group on December 10, 2021, partnering with the founders and management who will continue to lead the business. The capital will support The Amlon Group's expansion of its hazardous and metal-bearing waste recycling, processing, and treatment capabilities and enable organic growth and add-on acquisitions.

The Amlon Group (Heartwood-Backed) Acquires EcoWater Industries (EcoWerks)

February 20, 2024

Environmental Services

The Amlon Group, a Heartwood Partners-backed environmental services platform, has acquired EcoWater Industries (dba EcoWerks), an industrial waste-to-value processor based in Port Arthur, Texas. The acquisition expands Amlon's processing capabilities, permits and capacity—adding wastewater treatment, equipment cleanout, oil recovery services and a permitted non-hazardous TSDF to its footprint.

The Amlon Group (Heartwood Partners Portfolio) Acquires Baytown Medical Waste and Music City Group

August 10, 2023

Environmental Services

Heartwood Partners’ portfolio company, The Amlon Group, completed two add-on acquisitions in June 2023: Paragon Southwest Medical Waste (now Amlon Baytown) in Baytown, Texas, and Music City Group in Nashville, Tennessee. The deals expand Amlon’s hazardous and medical waste processing capabilities — including a patented pyrolysis medical-waste technology — and broaden its recurring-service footprint across new end markets.

Heartwood Partners Closes $245M Continuation Vehicle for The Amlon Group

May 15, 2025

Environmental Services

Heartwood Partners closed a $245 million continuation vehicle on May 15, 2025 to extend its investment in The Amlon Group and provide liquidity to existing investors. Commitments came from Heartwood's GP alongside institutional investors including Apogem Capital, New 2ND Capital, Reinsurance Group of America, Mercer Investments, Round2 Investment Partners, Flexstone Partners and other syndicate investors to support Amlon's M&A pipeline, greenfield expansions and organic growth.

A. O. Smith Acquires Master Water Conditioning Corporation

July 23, 2021

Manufacturing

A. O. Smith Corporation acquired Master Water Conditioning Corporation, a family-owned water treatment company based in Pottstown, Pennsylvania, in an all-cash transaction; terms were not disclosed. Master Water will join A. O. Smith’s North America Water Treatment business, with current president Richard Mest continuing to lead the Master Water operations from Pottstown.

Marlin and Altor (via MW Investment B.V.) Take Meltwater Private

August 9, 2023

Cloud & SaaS

MW Investment B.V., an acquisition vehicle jointly controlled by Marlin Equity Partners and Altor Equity Partners, completed a take‑private acquisition of Meltwater on August 9, 2023. Shareholders were offered NOK 18.00 (cash, Offeror shares, or combination); Meltwater was delisted from the Oslo Stock Exchange and will operate under majority ownership of Marlin and Altor to drive product investment, sales growth and strategic M&A.