Heartwood Partners, a middle-market private equity firm founded in 1982, announced the promotions of Demetrios Dounis, James Sidwa, and Edwin (Ed) Tan to Managing Partners. They will continue to serve on Heartwood’s Management Committee alongside Rob Tucker and Mark Allsteadt.
The promotions are the next step in Heartwood’s plan to transition the firm’s leadership while continuing to position it for long-term success.
These three new Managing Partners have over 65 years of collective financial experience and have displayed consistent investment acumen through numerous business cycles.
Demetrios Dounis joined Heartwood in 2020 and 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 firm’s growth 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 his 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 part of the firm’s Managing Partner leadership team and Investment Committee. Before the fundraising for the firm’s fifth investment partnership, Rob and Mark will change their titles from Managing Partner and adjust their roles to identify Demetrios, James, and Ed as the future leaders of Heartwood. Rob and Mark will remain active in the firm and on its Investment Committee after this change.
KEY QUOTES:
“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.
– Rob Tucker
“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.”
– Mark Allsteadt
