M&A Deal Summary

Hastings Equity Partners and Graycliff Partners Acquire MKD Electric

On February 3, 2021, private equity firms Hastings Equity Partners and Graycliff Partners acquired engineering company MKD Electric

Acquisition Highlights
  • This is Hastings Equity Partners’ 2nd and Graycliff Partners’ 1st transaction in the Engineering sector.
  • This is Hastings Equity Partners’ 27th and Graycliff Partners’ 47th transaction in the United States.
  • This is Hastings Equity Partners’ 1st and Graycliff Partners’ 4th transaction in Illinois.

M&A Deal Summary
Date 2021-02-03
Target MKD Electric
Sector Engineering
Buyer(s) Hastings Equity Partners
Graycliff Partners
Deal Type Recapitalization

Target

MKD Electric

Elgin, Illinois, United States
website
MKD Electric is a full-service electrical, instrumentation, and systems, integration contractor. MKD Electric designs, builds, installs, and maintains client systems, projects and facilities by focusing on safety, quality and value through industry-leading training initiatives and relationship focus. MKD Electric was founded in 1995 and is based in Elgin, Illinois.

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Buyer(S) 2

Buyer

Hastings Equity Partners

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2004
Size Middle-Market
Type Sector Focused
DESCRIPTION

Hastings Equity Partners is a private investment firm focused on small to mid-sized enterprises in the business and industrial services sector. Hastings looks to invest in and acquire North American companies with trailing EBITDA of $5 to $20 million. Hastings looks for control situations only and will consider funding buyouts (LBOs, MBOs), recapitalizations, and growth capital financings. Hastings Equity Partners was formed in 2004 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 28 of 34
Sector (Engineering) 2 of 2
Type (Recapitalization) 4 of 4
State (Illinois) 1 of 2
Country (United States) 27 of 33
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-05 A&L Industrial Services

La Porte, Texas, United States

A&L Industrial Services is a provider of scaffolding, insulation, and industrial coating to refineries, petrochemical plants, and liquified natural gas facilities across the Gulf Coast. A&L Industrial Services was formed in 1985 and is based in Deer Park, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-12 Celerity Consulting

San Francisco, California, United States

Celerity Consulting is a provider of information management consulting services for gas and electric utilities, state governments, law firms, and corporations. Celerity specializes in helping its customers retrieve, organize, and analyze large, complex data and records for litigation, compliance, and risk management purposes. Celerity Consulting was founded in 2001 and headquartered in San Francisco, California.

Buy -
Buyer

Graycliff Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1991
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Graycliff Partners is a private equity firm focused on private equity and mezzanine investments in middle-market companies throughout the US. The Firm's mezzanine practice does not have any sector preferences and looks to invest $10 to $50 million in profitable companies with at least $10 million in revenue. Funds are used to support buyouts, growth needs, divestitures, or consolidations. Graycliff's private equity group looks to acquire middle-market companies in the manufacturing, service, and distribution sectors. The Firm looks for businesses with $10 to $200 million of revenue. Graycliff Partners was established in 1991 and is based in New York City.

DEAL STATS #
Overall 52 of 71
Sector (Engineering) 1 of 1
Type (Recapitalization) 7 of 10
State (Illinois) 4 of 5
Country (United States) 47 of 66
Year (2021) 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-04 Fairway Architectural Railing Solutions

Mount Joy, Pennsylvania, United States

Fairway Architectural Railing Solutions is a manufacturer of vinyl, aluminum and composite railing systems and distributor of ancillary building products. The company offers durable vinyl railing systems and lightweight aluminum and composite rail products and accessories primarily for residential decks. Fairway Architectural Railing Solutions was founded in 1997 and is based in Mount Joy, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-09 Ballymore

Coatesville, Pennsylvania, United States

Ballymore Safety Products designs, develops, and manufactures engineered safety products that address safety and productivity issues related to vertical access and heavy material handling. The Company offers a broad suite of products and services, including rolling safety ladders, lifts, work platforms, fall protection systems, portable loading docks, lift tables, conveyors, stackers, and reach tools. Ballymore Safety Products was founded in 1945 and is based in Coatesville, Pennsylvania.

Buy -
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