Heartwood Partners, LLC is pleased to announce that Heartwood Partners III, LP (“Fund III”) successfully exited its investment in MicroCare Holdings, LLC.
Headquartered in New Britain, CT, MicroCare is a leading provider of precision cleaning, coating, and lubrication solutions for mission-critical applications demanding “perfectly clean” results. MicroCare’s high-performance branded fluids and tools are trusted by customers across the healthcare, aerospace & defense, data centers, electronics, and other critical markets. The Company operates in the U.S., Europe, and Asia, and serves customers in more than 50 countries.
Under Heartwood Partners’ ownership, MicroCare executed on a strategic plan to broaden its capabilities and deepen its leadership in critical cleaning. The Company strengthened its management team with key hires and invested in new product development, manufacturing capacity & automation, and commercial infrastructure to drive growth. MicroCare also completed the acquisitions of Certol International in 2021 and Infection Control Technologies in 2023, significantly expanding its product portfolio as well as its presence in the healthcare infection prevention market.
“Over the past five years, we’ve grown MicroCare into a stronger and more diversified business, and Heartwood Partners played a key role in that journey,” said Tom Tattersall 1, CEO of MicroCare. “Their partnership, support, industry knowledge and willingness to invest behind our vision allowed us to expand into new markets, strengthen our operations, and build capabilities to better serve our customers. I’m proud of what we accomplished together and excited for what’s ahead.”
Edwin Tan, Managing Partner at Heartwood Partners stated: “The MicroCare team executed exceptionally well against a focused strategic plan that was developed at the start of our partnership. The Company’s meaningful growth and this successful exit in the precision cleaning space is another example of how Heartwood’s approach to working with family, management, and founder-owned businesses can support long-term value creation. We’re grateful to have worked alongside Tom and the team and look forward to watching their continued success.”
Finn Dixon & Herling LLP served as legal advisor and Guggenheim Securities, LLC served as financial adviser to MicroCare and its investors.
Heartwood Partners, a middle market private equity firm whose predecessor firm was founded in 1982, is differentiated by a unique higher-equity, current cash yield model designed to create partnership with continuing management. Our approach combines a more 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, and IT improvement and acquisition integration. As of December 31, 2024, Heartwood Partners managed over $1.3 billion in investments and commitments, and its principals have invested in more than 100 platform and add-on acquisitions. Heartwood is currently investing from Heartwood Partners IV, LP, and is continuing to focus on founder, family and management-held businesses serving the niche manufacturing, specialty chemicals, food, agriculture, packaging, and industrial & consumer services markets. For additional information about Heartwood, please visit www.heartwoodpartners.com.
¹Mr. Tom Tattersall is not a client or investor of Heartwood Partners, nor was he compensated for his statements herein.
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