PennSpring Continues Growth, Adding Principal with Strong Deal and Value-Creation Expertise
LANCASTER, PA / ACCESS Newswire / October 7, 2026 /PennSpring Capital announced today that Billy Heidt has joined the firm as Principal. Billy brings a decade of M&A and operating experience to PennSpring. He will be involved in all aspects of the firm 's investment process, from the origination and structuring of new platform and add-on acquisitions through post-closing value creation with portfolio company management.
Most recently, Billy co-founded Grace Court Partners, a New York-based acquisition vehicle focused on family-owned businesses in the lower middle market, where he managed the firm 's investment process and institutional investor base. Prior to Grace Court, Billy led financial operations for venture-backed companies in the autonomous vehicle space, managing corporate planning, financing activities, and strategic partnerships. He started his career in investment banking covering the Technology & Business Services sectors, where he supported a variety of transactions, including sell-side M&A, leveraged buyout financings, and equity capital raises.
Billy earned a Bachelor of Arts in Economics from Dartmouth College, where he was also a member of the men 's lacrosse team.
You can contact Billy at billy@pennspring.com.
"I am thrilled to welcome Billy to the PennSpring family - he brings a rare combination of deal experience and operating instincts from both sides of the table, " stated PennSpring Managing Partner Lou Castelli. "Billy will be integral to accelerating our acquisition pace and driving growth across our portfolio companies. "
"Lou and the team have built something special at PennSpring - a firm with entrepreneurial roots that moves with conviction, operates with integrity, and genuinely partners with the companies it acquires - and I 'm grateful for the chance to be part of it, " followed Billy Heidt. "I look forward to building on that foundation with our portfolio companies and the partners we work with. "
About The PennSpring Group
Founded in 2018, Lancaster-based PennSpring Capital has evolved into one of the industry 's most active and productive investment firms. PennSpring has made 27 investments, including 19 majority positions, and has completed seven successful exits to date. PennSpring deploys a uniquely hands-on, "PE Accelerator " investment model, working with promising companies to effect significant operational and financial improvements - positioning these companies for optimal valuation at subsequent institutional sale. PennSpring has four times been named a Top 50 PE Firm in the Middle Market and has been recognized as an Axial Top 20 Private Equity Fund. Learn more at www.pennspring.com.
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SOURCE:PennSpring Capital
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