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Heartwood Partners

Medium
Not on record · Founded 1982 · Website
Private equityHigher-equity, lower-debt approachConservative capitalizationAdd-on acquisitionsPlastics colorantsEngineered technical fabrics and coated materialsTarping systems
Last verified
11/3/2026

Firm Overview

33
Portfolio tracked
3
Sectors
0
Regions
11/3/2026
Last verified

Heartwood Partners invests in founder, family, and management-held businesses. The firm uses a higher-equity, lower-debt approach to support management teams in implementing growth plans.

Heartwood Partners focuses on founder, family, and management-held businesses to help them achieve their goals. The firm capitalizes businesses conservatively, encouraging owners to retain ownership while providing operating experience and resources to support management teams.

The firm's investment structure utilizes a higher-equity, lower-debt approach. This method is intended to provide management teams a platform to develop and implement growth plans with confidence.

Heartwood Partners seeks to back reliable and committed management teams with proven track records. The firm intertwines strategic and financial expertise to enhance the performance of its portfolio companies.

Founded1982
StrategiesPrivate equity, Higher-equity, lower-debt approach, Conservative capitalization, Add-on acquisitions
Sector focusPlastics colorants, Engineered technical fabrics and coated materials, Tarping systems

Leadership

Mark Allsteadt
Co-Founder
Mark is a Co-Founder of Heartwood Partners and a member of the Investment Committee with a focus on private equity and mid to large cap corporate operations.
Demetrios Dounis
Managing Partner
Demetrios is a Managing Partner and a member of the Investment Committee, bringing extensive experience in private equity and investment banking.
James Sidwa
Managing Partner
James is a Managing Partner and a member of the Investment Committee.
Edwin Tan
Managing Partner
Edwin is a Managing Partner and a member of the Investment Committee.
Jason Phillips
Partner & Chief Operating Officer
Jason is a Partner, the Chief Operating Officer, and a member of the Investment Committee with a background in business operations and strategic management consulting.
Brian Fitzgerald
Chairman Emeritus
Brian is a co-founder of Heartwood Partners whose career has focused primarily on private equity, corporate development, and acquisitions.
Robert Tucker
Co-Founder
Robert is a Co-Founder of Heartwood Partners.
John Willert
Partner
John is a Partner at Heartwood Partners.
James Jang
Managing Director
James is responsible for evaluating new investment opportunities and managing existing portfolio companies.
Andrea V. Nelson
Managing Director
Andrea is involved in the business strategy and operations of the firm’s portfolio companies, drawing on her career in private equity and investment banking.
John Newman
Managing Director
John is involved in the origination and execution of new investments for the firm while managing existing portfolio companies.
Kristin Mann
Chief Talent Officer
Kristin specializes in supporting the firm and portfolio companies on recruitment and talent development through executive assessments and coaching.
Michelle Ryan
Chief Commercial and Marketing Officer
Michelle manages all branding, communications, and digital strategies both within the firm and with portfolio companies.
Berat Rifati
Chief Financial Officer & Chief Compliance Officer
Berat serves as the Chief Financial Officer and Chief Compliance Officer for the firm.
Dave Fleming
Principal
Dave is responsible for the origination and execution of new investments for the firm.
Morgan Skarzynski
Principal
Morgan is a Principal at Heartwood Partners.
Wendy Diglio
Corporate Controller
Wendy is responsible for the accounting of the firm’s limited partnerships, communications with limited partners, and the due diligence and acquisition processes.

Deals on record

1 on record in the index
Add-on

Norlee, a Heartwood Partners portfolio company, acquired IEM Electric

2026-10-06
Source: axios.link

Deals are listed only where a public source names both sides. Submit a correction.

Portfolio on record

Portfolio by sector
  • Industrials27 of 33
  • Consumer5 of 33
  • Business Services1 of 33

33 portfolio companies on record in the index, grouped by sector hub.

Current and exited
Current: 12 of 33Exited: 21 of 33
Portfolio size among all firms

33 companies on record, more than 52% of the 405 firms in the index.

0885 companies (log scale)

Portfolio Companies

CompanySectorStatusWebsite
APAftermarket Performance GroupNiche ManufacturingExitedVisit ↗
AAllentown IncNiche ManufacturingExitedVisit ↗
AAmes GroupCommercial & Industrial ServicesExitedVisit ↗
ALArtisant LaneNiche ManufacturingCurrentVisit ↗
BCBreen Color ConcentratesSpecialty Chemicals/MaterialsExitedVisit ↗
BBBush Brothers Provision Co.Food/Agriculture/NutritionCurrentVisit ↗
CChromaScapeSpecialty Chemicals/MaterialsCurrentVisit ↗
CCcmilc.comBuilding Products, Niche ManufacturingExitedVisit ↗
DPDayton PartsDistributionExitedVisit ↗
DFDerby Fabricating SolutionsNiche ManufacturingExitedVisit ↗
FFintubeNiche ManufacturingExitedVisit ↗
FBFletcher Business GroupDistribution, Niche ManufacturingCurrentVisit ↗
HBHigh Bar Brands, LLCDistribution, Niche ManufacturingExitedVisit ↗
IImprimusPackagingCurrentVisit ↗
LHLinen HoldingsDistribution, Niche ManufacturingExitedVisit ↗
LSLone Star Beef ProcessorsFood/Agriculture/NutritionExitedVisit ↗
MHM&Q Holdings, LLCNiche Manufacturing, PackagingExitedVisit ↗
MMicroCareSpecialty Chemicals/MaterialsExitedVisit ↗
NSNative Seed GroupFood/Agriculture/Nutrition, DistributionCurrentVisit ↗
NNorlee GroupCommercial & Industrial ServicesCurrentVisit ↗
PPParkway Products LLCNiche ManufacturingExitedVisit ↗
RRRoll-Rite LLCNiche ManufacturingExitedVisit ↗
RPRoyal ProductsNiche ManufacturingCurrentVisit ↗
SSomaFinaFood/Agriculture/Nutrition, Niche ManufacturingCurrentVisit ↗
SCStoller CorporationCommercial & Industrial ServicesExitedNot on record
SSSuper-SodFood/Agriculture/NutritionExitedVisit ↗
SSSur-SealNiche ManufacturingExitedVisit ↗
AThe Amlon GroupEnvironmental ServicesCurrentVisit ↗
TTTwitchell Technical ProductsSpecialty Chemicals/MaterialsExitedVisit ↗
TTXGCommercial & Industrial ServicesCurrentVisit ↗
UWUniversal WoodsSpecialty Chemicals/MaterialsExitedVisit ↗
VVITALSpaceBuilding Products, Niche ManufacturingCurrentVisit ↗
WLWeaver LeatherNiche ManufacturingExitedVisit ↗

Source: https://heartwoodpartners.com/investments/companies/

Firms that also back Heartwood Partners' companies

Co-investor web
HeartwoodPartnersAEA InvestorsAEA Investors: 1 shared companies on recordKainos CapitalKainos Capital: 1 shared companies on record

Line width shows shared portfolio companies on record in the index. Top 2 co-investors shown.

Questions about Heartwood Partners

What deals has Heartwood Partners done recently?
The most recent deal on record here is: Norlee, a Heartwood Partners portfolio company, acquired IEM Electric (2026-10-06). This page lists 1 deal, each with its public source.
Sources for this profile, updated 2026-11-01
This profile is based on publicly available information and may be incomplete or outdated. PE Firm Index is not affiliated with Heartwood Partners and does not provide investment advice.

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