Private Equity Firm Manufacturing

Heartwood Partners

Norwalk, Connecticut, United States

Formerly known as Capital Partners, Capital Partners (Capital Partners Private Equity Income Fund III, LP), Capital Partners (Private Equity Income Fund III)

Middle-market private equity firm founded in 1982, differentiated by a lower-leverage, current cash-yield approach that partners with continuing management teams and supports long-term growth through organic and acquisition-driven expansion.

Focus Areas
Specialty chemicals, Niche manufacturing, Packaging

Tracked deals

8

8 tracked deals across 2019-2026.

Recent pace

1

1 tracked deal announced in the last 12 months.

Deal mix

Addon

5 addon · 2 buyout · 1 growth capital

Heartwood Partners Acquisition Volume by Year

Last 3 years

Acquisition volume by year Annual acquisition counts for the last 3 years for Heartwood Partners. 3 2019 4 2020 ~1 est. 1 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

  • The Amlon Group Acquires Excel TSD of Tennessee LLC in Third Add-On Deal
    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, acquired Excel TSD of Tennessee LLC (along with related entities WSI and UTI). The deal expands Amlon’s hazardous and non-hazardous waste treatment, storage, and disposal capabilities and strengthens its geographic presence in the Mid-South region.

  • Capital Partners Acquires MicroCare
    May 28, 2020
    Buyer
    Capital Partners (Capital Partners Private Equity Income Fund III, LP)
    Target
    MicroCare, LLC
    Seller
    MicroCare co-founder and senior management
    Industry
    Manufacturing
    Location
    Connecticut, United States
    Type
    Buyout

    Capital Partners (via its Private Equity Income Fund III) completed a control investment in MicroCare, LLC on May 28, 2020, partnering with the company's co-founder and senior management. MicroCare, headquartered in New Britain, Connecticut, manufactures industrial cleaning fluids, coatings, packaging and dispensing solutions for electronics, fiber optics and medical device markets; the investment will support balance-sheet strengthening, manufacturing capability expansion and acquisition-driven growth.

  • CMI Limited Co. Acquires Engineered Plastic Systems
    March 25, 2020
    Buyer
    CMI Limited Co., Capital Partners
    Target
    Engineered Plastic Systems
    Industry
    Building Products
    Location
    Illinois, United States
    Type
    Addon

    CMI Limited Co., a portfolio company of private equity firm Capital Partners, has acquired Engineered Plastic Systems (EPS), the maker of Lumberock, Bear Board and Perennial Park Products. The acquisition expands CMI's extrusion-based product portfolio and regional manufacturing footprint, adding HDPE decking, railing and marine-grade products to its offerings.

  • Universal Woods (Capital Partners portfolio) Acquires R&D Coatings, LLC
    January 31, 2020
    Buyer
    Universal Woods, Capital Partners Private Equity (Capital Partners Private Equity Investment Fund III, LP)
    Target
    R&D Coatings, LLC
    Industry
    Manufacturing
    Location
    Pennsylvania, United States
    Type
    Addon

    Universal Woods, a Capital Partners-backed manufacturer of hard-surface coated substrates, has acquired R&D Coatings, LLC, a Pittsburgh-based maker of electron beam (EB) and ultraviolet (UV) coatings. The deal brings R&D's proprietary, environmentally friendly coating capabilities and customer relationships into Universal Woods to accelerate product development and support Universal's growth plans as part of its private equity-backed expansion.

  • Minimizer (backed by Capital Partners) Acquires Premier Manufacturing Company
    January 21, 2020
    Buyer
    Minimizer, Capital Partners
    Target
    Premier Manufacturing Company
    Seller
    Paul Grycko (former owner and CEO)
    Industry
    Manufacturing
    Location
    Oregon, United States
    Type
    Addon

    Minimizer, a manufacturer and distributor of heavy‑duty truck aftermarket accessories, acquired Premier Manufacturing Company of Tualatin, Oregon in January 2020. The transaction — executed with backing from private equity firm Capital Partners — is an add‑on to Minimizer's business intended to expand product lines, manufacturing capabilities, and geographic reach; former owner Paul Grycko remains invested and joins the management board.

  • Capital Partners Invests in Allentown, Inc.
    October 22, 2019
    Buyer
    Capital Partners (Capital Partners Private Equity Income Fund III, LP)
    Target
    Allentown, Inc.
    Industry
    Medical Devices
    Location
    New Jersey, United States
    Type
    Growth capital

    Capital Partners (through Capital Partners Private Equity Income Fund III, LP) completed a growth investment in Allentown, Inc. on October 22, 2019. John Coiro will remain CEO and Chairman as the investment is intended to support Allentown’s continued organic growth and acquisition-driven expansion of its lab animal housing and life‑science product offerings.

  • Capital Partners Acquires Majority Stake in Universal Woods
    March 15, 2019
    Buyer
    Capital Partners Private Equity Income Fund III, LP
    Target
    Universal Woods
    Seller
    Current shareholders (unnamed)
    Industry
    Building Products
    Location
    Kentucky, United States
    Type
    Buyout

    Capital Partners Private Equity Income Fund III, LP completed a majority-equity investment in Universal Woods on March 15, 2019, partnering with CEO and long-time shareholder Paul Neumann and management. The investment will provide Universal Woods — a Louisville-based manufacturer of hard-surface coated substrates for image sublimation and mezzanine decking — with additional resources to support growth, new product development and hiring; debt financing was provided by PNC.

  • Parkway Products Acquires Littlestar Plastics
    January 7, 2019
    Buyer
    Parkway Products, LLC, Capital Partners
    Target
    Littlestar Plastics
    Seller
    Philip Preston (Founder & CEO)
    Industry
    Manufacturing
    Location
    Illinois, United States
    Type
    Addon

    Parkway Products, a PE-backed diversified manufacturer, acquired Littlestar Plastics from founder and CEO Philip Preston on January 7, 2019. The add-on expands Parkway's high-performance plastics and AS9100 aerospace machining capabilities by adding Littlestar's Machesney Park, Illinois production facility to Parkway's North American footprint.

Related Acquisition Pages

Manufacturing Buyers & Acquisitions 4 tracked deals by Heartwood Partners. Building Products Buyers & Acquisitions 2 tracked deals by Heartwood Partners. Environmental Services Buyers & Acquisitions 1 tracked deal by Heartwood Partners. Medical Devices Buyers & Acquisitions 1 tracked deal by Heartwood Partners. Acquisitions in Illinois 2 tracked deals by Heartwood Partners. Acquisitions in Connecticut 1 tracked deal by Heartwood Partners. Acquisitions in Kentucky 1 tracked deal by Heartwood Partners. Acquisitions in New Jersey 1 tracked deal by Heartwood Partners.

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