Buyout PE
Heartwood Partners
Heartwood Partners acquires controlling stakes in established, profitable businesses, from Norwalk, CT. It states a focus on financial services, materials & chemicals and software & internet.
Stated investment criteria
What Heartwood Partners says it buys
Read from Heartwood Partners’s own website in August 2026. This is what the firm says it buys, not what anyone has recorded it buying, and figures are shown in the currency the firm itself used - nothing here is converted. Every line links to the page it was read from.
| Revenue it states | $30m to $400m1 |
| EBITDA it states | $5m to $30m1 |
| Transaction types | Add-on2 |
| People listed on its team page | 283 |
Sources
A stated mandate is a firm’s description of itself and was true of the page on the day it was read; firms widen and narrow what they will look at without updating the site. Heartwood Partners states that it will take either a controlling or a minority stake. The team figure counts the people the firm shows on one team page, so it is a floor rather than a headcount: firms that split their team across tabs or load it in pages will read low. Nothing here is a commitment by Heartwood Partners to consider any particular business, and nothing on this page is represented as being for sale.
SEC filings
What Heartwood Partners has raised
From this firm's own Form D filings. A fund files one within fifteen days of its first sale, under penalty of perjury, which makes these the hardest numbers on the page.
| Vehicles filed | 3 |
| Total capital raised | $433m |
| Largest single vehicle | $433m |
| Filing history | 2020 to 2025 |
| Smallest accepted commitment | None stated |
| Filed from | CONNECTICUT |
Form D covers US-domiciled vehicles raised from accredited investors. It will not capture a fund raised outside the United States, separately managed accounts, or capital deployed off balance sheet, so treat these as a floor rather than a total.
Regulatory record
How Heartwood Partners is registered
From this firm's Form ADV, the annual filing every registered and exempt investment adviser makes to the SEC.
| Adviser status | SEC registered |
| Regulatory assets under management | $1.4bn |
| Employees | 27 |
| Private funds advised | 18 · $2.1bn gross |
| SEC adviser number | CRD 313052 |
Portfolio
Disclosed holdings
Companies Heartwood Partners lists on its own website. 3 carry a stated investment year. 1 has a recorded transaction against it in the deal archive.
Compiled from Heartwood Partners’s published portfolio page. Where a recorded transaction is shown, that company was the target of a reported deal and has most likely already been realised. Nothing here is represented as being for sale.
Recorded transactions
Buying and selling
Deals in which Heartwood Partners is named as buyer or seller in the transaction archive. 1 recorded exit, most recently in 2024.
| Company | Side | Counterparty | Year | Consideration |
|---|---|---|---|---|
| UW Solutions | Sold | Apogee | 2024 | $240m |
Compiled from a transaction archive of 10,204 recorded deals. Most private transactions are never disclosed, so this is a sample of a firm’s activity rather than a complete record of it.
Valuation context
Transaction values in Financial Services
What companies have actually sold for in financial services, across 726 recorded transactions.
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