HEARTWOOD PARTNERS, LLC

Thesis

Heartwood Partners is a middle-market private equity firm founded in 1982, with a distinct investment strategy centered on stability, strength, and performance. They focus on control equity and equity-related investments in small to mid-sized, U.S.-based private companies with revenues between $20 million and $250 million and operating profits between $5 million and $25 million. Key sectors include Agriculture/Food, Aftermarket Auto/Truck Parts, Distribution, Environmental Services, Industrial Services, Niche Manufacturing, Packaging, Specialty Chemicals/Materials, Consumer Products, and Commercial & Industrial Services. Heartwood Partners typically takes a lead role, capitalizing companies with 60% to 80% equity, and offers current income through quarterly cash distributions. Their investment horizon is typically five to ten years. As of May 2026, Heartwood Partners has $1.1 billion of assets under management and is investing from Heartwood Partners Fund IV, LP, which closed in September 2023 with $525 million of capital.