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HEARTWOOD APPOINTS THREE AS MANAGING PARTNERS

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NORWALK, Conn., April 29, 2024-- Heartwood Partners, LLC ("Heartwood") is pleased to announce the promotions of Demetrios Dounis, James Sidwa and Edwin ("Ed") Tan to Managing Partners of the firm. They will continue to serve as members of Heartwood's Management Committee alongside Rob Tucker and Mark Allsteadt. The promotions are the next step in Heartwood's plan to transition leadership of the firm while continuing to position it for long-term success.

Rob noted, "All three individuals have demonstrated strong investment results and leadership as Partners of the firm and as members of the Investment Committee. Mark and I are excited for the next generation of Heartwood leadership and believe our investors will be in good hands for the longer term." Rob and Mark have been working with Demetrios, James and Ed to engrain them into all parts of the firm for several years now.

The three new Managing Partners have over 65 years of collective financial experience and have displayed consistent investment acumen through numerous business cycles.

Mark noted "These promotions affirm our commitment to the middle market with the investment team and value creation resources we have in place. We remain focused on the same part of the market and same successful core strategy as we have for 20 years."

Demetrios Dounis joined Heartwood in 2020. He has played a pivotal role in establishing Heartwood as a significant investor in the environmental services sector. In addition to his 17 years of private equity experience, Demetrios spent five years working in investment banking and public accounting. He attended the University of Chicago Booth School of Business and Rutgers University.

James Sidwa joined Heartwood in 2009 and has been instrumental to the growth of firm over the past 15 years. He has led multiple successful investments across the agriculture and building products sectors. In addition to his 17 years of private equity experience, James spent eight years working in transaction services and public accounting. He attended the University of Connecticut.

Ed Tan joined Heartwood in 2011 and has played a significant role in the firm's growth over the past 13 years. He has led multiple successful investments across the chemicals and specialty materials sectors. In addition to 19 years of private equity and debt investing experience, Ed spent two years working in investment banking. He attended the University of Chicago Booth School of Business and the University of Pennsylvania.

Rob and Mark remain actively involved as part of the firm's Managing Partner leadership team and Investment Committee. Prior to the fundraise for the firm's fifth investment partnership, Rob and Mark will change their titles from Managing Partner and adjust their roles to clearly identify Demetrios, James and Ed as the future leaders of Heartwood. Both Rob and Mark will remain active in the firm and on its Investment Committee after this change.

About Heartwood Partners

Heartwood Partners, a middle market private equity firm founded in 1982, is differentiated by a unique lower-leverage, current cash yield approach designed to create partnership with continuing management. Our approach combines a conservative capital structure with strategic execution to support long-term growth, including organic and acquisition-driven expansion into new products, services, and end markets.

In addition, we support each management team with our in-house Value Creation Specialists who provide deep, subject-matter expertise in strategic areas such as eCommerce and digital marketing, human capital and organizational design, IT improvement, and acquisition integration.

We currently manage over $1.7 billion in investments and commitments, and our principals have invested in more than 100 platform and add-on acquisitions. Heartwood is currently investing from Heartwood Partners IV, LP, and is focused on founder, family and management-held businesses serving the food, agriculture, specialty chemicals, niche manufacturing, packaging, and industrial & consumer services markets.

For additional information about Heartwood, please visit www.heartwoodpartners.com.

Contact:
Name: Michelle Ryan
Email: mryan@heartwoodpartners.com
Phone: 203-945-0432

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