Transaction marks fifth exit for Heartwood Partners in past 13 months
Sur-Seal provides engineered sealing, thermal management, and custom material converting services for use in electric vehicles, HVAC, medical, and industrial technology markets.
January 7, 2026|John McNulty
Heartwood Partners has completed the sale of Sur-Seal to Brodie Generational Capital Partners, marking the fifth portfolio company exit for Heartwood in the past 13 months.
Sur-Seal provides engineered sealing, thermal management, and custom material converting services for use in electric vehicles, HVAC, medical, and industrial technology markets. The company’s product capabilities include precision die-cutting, adhesive applications, thermal interface materials, gasketing, and EMI shielding. Customers of Sur-Seal include global OEMs and tier-one suppliers. Sur-Seal, led by CEO Pete Futia, was founded in 1965 and is headquartered in Cincinnati with multiple operating facilities in the United States and Mexico.
Heartwood (then Capital Partners) acquired a majority interest in Sur-Seal in June 2018. During its ownership term, the company acquired Grand Rapids-based Kent Manufacturing (March 2025); Jacksonville-based Ameritape (August 2023); Charlotte-area-based Mueller Die Cut Solutions (March 2022); and New Hampshire-based Spectex (August 2021).
“Heartwood Partners has been an exceptional partner throughout this journey,” said Mr. Futia. “Their support, strategic guidance, and commitment to investing in our people and capabilities enabled us to transform Sur-Seal into a stronger, more diversified, and more innovative organization. We are excited to partner with Brodie Generational Capital Partners for the next chapter.”
“Sur-Seal’s leadership team executed extraordinarily well against a clear strategic roadmap,” said James Sidwa, managing partner at Heartwood Partners. “The company’s growth, operational improvements, and expansion into new markets reflect the strength of the management team and the power of our collaborative, lower-leverage approach.”
Jacob Brodie
“Sur-Seal is exactly the type of business we set out to find,” said Jacob Brodie, the president and COO of Brodie Generational. “Sur-Seal has an exceptional reputation, strong technical and manufacturing capabilities, and a management team that truly understands the converting industry. As a family office investing our own capital, we look for companies we want to own and grow for the long term. We’re excited to support the team as they strengthen the sales pipeline, expand technical service, and enter attractive new markets while continuing to deliver outstanding support to customers.”
Brodie Generational is a single-family office that makes control investments in US or UK headquartered companies with revenues of up to $100 million and EBITDA from $20 million to $50 million. Sectors of interest include specialty chemicals, manufacturing, aerospace and defense, life sciences, personal care, medical devices, and nuclear power.
Brodie Generational’s family capital comes from the sale of the Brodie family’s former company, Purolite, a specialty resin and separation technologies business that was sold to Ecolab in 2021 for approximately $3.7 billion. The family office is headquartered near Philadelphia in Radnor, Pennsylvania.
Heartwood invests in U.S.-based companies with revenues between $20 million and $250 million and EBITDA between $3 million and $30 million. Sectors of focus include food, agriculture, specialty chemicals, niche manufacturing, packaging, and industrial and consumer services. Heartwood is currently investing through its fourth fund, Heartwood Partners Fund IV LP. The Norwalk, Connecticut-based firm was founded as Capital Partners in 1982 and rebranded to Heartwood Partners in September 2020.
