Tracked deals
27
27 tracked deals across 2020-2026.
Private Equity Firm
Financial Services
Heartwood Partners
Norwalk, Connecticut, United States
Heartwood Partners is a middle-market private equity firm founded in 1982, differentiated by a lower-leverage, current cash yield approach designed to create partnership with continuing management. The firm supports long-term growth through organic and acquisition-driven expansion and backs management with in-house Value Creation Specialists (eCommerce & digital marketing, human capital & organizational design, and IT improvement and integration).
- Focus Areas
- Private equity, Asset management (private markets)
- Website
- heartwoodpartners.com
Recent pace
4
4 tracked deals announced in the last 12 months.
Deal mix
Addon
19 addon · 4 buyout · 3 growth capital
Heartwood Partners Acquisition Volume by Year
Last 7 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
Showing the 12 most recent of 27 tracked deals for Heartwood Partners.
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April 21, 2026
- Buyer
- The Amlon Group, Heartwood Partners
- Target
- Excel TSD of Tennessee LLC, WSI, UTI
- Industry
- Environmental Services
- Location
- Tennessee, United States
- Type
- Addon
The Amlon Group, backed by Heartwood Partners, has acquired Excel TSD of Tennessee LLC, along with related entities WSI and UTI. The transaction adds a RCRA Part B permitted hazardous and non-hazardous waste treatment, storage, and disposal facility based in Memphis, Tennessee, and is described as Amlon’s third add-on since Heartwood’s continuation vehicle closing.
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- Buyer
- The Amlon Group, Heartwood Partners
- Target
- Mastermelt America LLC
- Industry
- Environmental Services
- Location
- Tennessee, United States
- Type
- Addon
The Amlon Group, backed by Heartwood Partners, acquired Mastermelt America LLC. The acquired Sweetwater, Tennessee facility is now operating as Amlon Sweetwater and adds thermal processing and chemical dissolution capabilities for complex industrial waste streams.
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November 5, 2025
- Buyer
- Norlee Group, Heartwood Partners
- Target
- Inter-Bay Electric Company
- Industry
- Electrical Services
- Location
- Florida, United States
- Type
- Addon
Norlee Group, a Heartwood Partners-backed platform, has acquired Inter-Bay Electric Company (IBE), a Tampa-based commercial electrical contractor, in a transaction that closed on November 5, 2025. The add-on expands Norlee's Florida footprint and service capabilities—particularly in commercial, education and public-sector electrical and low-voltage work—while IBE will continue to operate under its current leadership.
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- Buyer
- Norlee Group, Norlee Investments LLC, Heartwood Partners
- Target
- Beaumont Electric Company
- Industry
- Industrial Services
- Location
- Florida, United States
- Type
- Addon
Norlee Group has acquired Beaumont Electric Company, a Naples, Florida-based electrical contracting firm, in a transaction completed on September 30, 2025; terms were not disclosed. The deal, supported by sponsor Heartwood Partners and advised to the seller by Madison Street Capital, expands Norlee's footprint and service capabilities in Southwest Florida and the broader Southeastern U.S.
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- Buyer
- Heartwood Partners, Apogem Capital, New 2ND Capital, Reinsurance Group of America, Mercer Investments, Round2 Investment Partners, Flexstone Partners, Syndicate investors
- Target
- The Amlon Group
- Industry
- Environmental Services
- Location
- Texas, United States
- Type
- Recapitalization
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.
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- Buyer
- Heartwood Partners, VITALSpace
- Target
- Portable Solutions Group
- Industry
- Building Products
- Location
- Kentucky, United States
- Type
- Addon
Heartwood Partners has formed VITALSpace, a multi-brand commercial modular building products platform that houses SteelCell, CareAffirm and the newly acquired Portable Solutions Group (PSG). The move follows Heartwood's growth equity investment to scale production, expand product capabilities (including modular access control and restrooms) and add a new manufacturing location to support demand across construction, industrial and other end markets.
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- Buyer
- Sur-Seal, Heartwood Partners
- Target
- Kent Manufacturing LLC
- Seller
- Mike Muraski / Kent Manufacturing family
- Industry
- Manufacturing
- Location
- Michigan, United States
- Type
- Addon
Sur-Seal, a custom-engineered converting and sealing platform backed by Heartwood Partners, has acquired Kent Manufacturing LLC, a third-generation Michigan converter. The deal expands Sur-Seal's medical cleanroom capacity and ISO-13485 capabilities, enhancing its ability to serve healthcare, aerospace and automotive customers from an added Michigan manufacturing location.
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- Buyer
- Heartwood Partners
- Target
- Norlee Group
- Seller
- White Wolf Capital Group
- Industry
- Industrial Services
- Location
- Florida, United States
- Type
- Growth capital
Heartwood Partners made a growth investment in Norlee Group, a Jacksonville, Florida-based provider of electrical, mechanical, technology, fire protection and engineering services, with White Wolf Capital exiting its prior investment. Heartwood is partnering with Norlee's management to accelerate organic growth and support add-on acquisitions; since the investment Norlee has completed three strategic acquisitions to expand capabilities and market presence in Florida. Transaction terms were not disclosed.
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July 24, 2024
- Buyer
- NativeSeed Group, Heartwood Partners
- Target
- Arrow Seed
- Seller
- Arrow Seed family owners
- Industry
- Agriculture
- Location
- Nebraska, United States
- Type
- Addon
NativeSeed Group, the seed and erosion-control platform backed by Heartwood Partners, has acquired Arrow Seed, a fourth-generation family-owned seed conditioner and supplier based in Broken Bow, Nebraska. The add-on expands NativeSeed's Midwestern footprint and broadens its product portfolio with additional warm-season and conservation seed varieties.
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April 12, 2024
- Buyer
- Heartwood Partners
- Target
- Royal Products
- Industry
- Manufacturing
- Location
- New York, United States
- Type
- Growth capital
Heartwood Partners made a growth investment in Royal Products, a Hauppauge, New York-based manufacturer and distributor of metalworking performance accessories, on April 12, 2024. Management will remain in place while Heartwood plans to support the company’s expansion through investments in people, processes and strategic add-on acquisitions; Lincoln International and Carl Marks Advisors served as financial advisors.
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- Buyer
- The Amlon Group, Heartwood Partners
- Target
- EcoWater Industries (dba EcoWerks)
- Industry
- Environmental Services
- Location
- Texas, United States
- Type
- Addon
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.
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February 6, 2024
- Buyer
- Somafina, Heartwood Partners
- Target
- UST Corporation
- Industry
- Manufacturing
- Location
- Utah, United States
- Type
- Addon
Somafina, a portfolio company of Heartwood Partners, has acquired UST Corporation, a contract manufacturer of vitamins, minerals, and supplements based in Layton, Utah. The add-on expands Somafina's manufacturing capabilities across capsule, gummy, powder, and liquid formats and adds ISO-certified in-house testing and formulation expertise to support supplement brand customers.
Related Acquisition Pages
Agriculture Buyers & Acquisitions
6 tracked deals by Heartwood Partners.
Environmental Services Buyers & Acquisitions
6 tracked deals by Heartwood Partners.
Manufacturing Buyers & Acquisitions
6 tracked deals by Heartwood Partners.
Food & Beverage Buyers & Acquisitions
2 tracked deals by Heartwood Partners.
Acquisitions in Florida
5 tracked deals by Heartwood Partners.
Acquisitions in Tennessee
3 tracked deals by Heartwood Partners.
Acquisitions in Texas
3 tracked deals by Heartwood Partners.
Acquisitions in Utah
3 tracked deals by Heartwood Partners.
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