Hastings Equity Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Hastings Equity Partners has acquired 3 companies. It has also invested in 4 others.

Hastings Equity Partners’ most common sectors for investment areenergy services and equipment (27%) and business services (9%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (39%) and growth capital (39%). In total, Hastings Equity Partners has invested in 12 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 2012 when it acquired Wright Trucking for $11M.

In the last 3 years, Hastings Equity Partners has exited 2 companies. The Firm’s most common exit type is secondary buyout (35%). Hastings Equity Partners’ largest (disclosed) exit occurred in 2013 when it sold CP Energy Services for $105M.

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M&A Summary

  • M&A Total Activity54
    • M&A Buy Activity34
    • M&A Sell Activity20
  • Total Sectors Invested 15
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 14
  • M&A Advisors 4

Hastings Equity Partners

Hastings Equity Partners

177 Huntington Ave., Floor 17,
Boston, Massachusetts 02115
United States
(781) 209-8801
www.hastingsequity.com

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.


Investment Criteria

Sectors of Interest: Chemicals, Energy Services and Equipment, Manufacturing

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue 20 200
Target EBITDA 5 20
Investment Size - -
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.4/yr) # 27 - 2 3 1 1 34
vol $11M $11M
Sell (0.8/yr) # 16 2 1 1 - - 20
vol $150M $150M
  54

Most Recent M&A

Company Date Value Type
JSET Automated Technologies LLC 2024-01-09 - Growth Capital
Hilliard, Ohio · www.jset.tech
Terra Staffing Group 2023-02-07 - Growth Capital
Everett, Washington · www.terrastaffinggroup.com
GridSource, Inc. 2022-12-22 - Buyout (LBO, MBO, MBI)
Baton Rouge, Louisiana · www.gogridsource.com
Code Red Safety 2022-09-01 - Secondary Sale
Hammond, Indiana · www.coderedsafety.com
High Star Traffic 2022-07-01 - Consolidation
Bartlett, Illinois · www.highstartraffic.com
Community Tree Services, Inc. 2022-06-29 - Growth Capital
Royal Oaks, California · www.communitytreeservice.net
Reach Wireline LLC 2021-10-29 - Merger
Fort Worth, Texas · www.reachwireline.com
Celerity Consulting Group LLC 2021-07-12 - Growth Capital
San Francisco, California · www.consultcelerity.com
MKD Electric 2021-02-03 - Recapitalization
Elgin, Illinois · www.mkdelectric.com
A&L Industrial Services, Inc. 2020-06-05 - Merger
La Porte, Texas · www.anlindustrial.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
GridSource, Inc. 2022-12-22 WiseConnect, Inc. 2023-03-21 2
Baton Rouge, Louisiana · www.gogridsource.com Overland Park, Kansas · www.wiseconnectinc.com

M&A by Sector

Sector Current # Value All-time # Value
Energy Services and Equipment 2 (18%) - 9 (26%) -
Business Services 2 (18%) - 3 (9%) -
Chemicals 1 (9%) - 3 (9%) -
Construction 2 (18%) - 3 (9%) -
Manufacturing - - 3 (9%) -
Transportation - - 2 (6%) 11M (100%)
Engineering 1 (9%) - 2 (6%) -
Safety/Security 1 (9%) - 2 (6%) -
Aerospace - - 1 (3%) -
Distribution - - 1 (3%) -
Electronics - - 1 (3%) -
Information Services 1 (9%) - 1 (3%) -
Machinery - - 1 (3%) -
Marine - - 1 (3%) -
Staffing 1 (9%) - 1 (3%) -
Total 11 - 34 $11M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 11 (100%) - 33 (97%) 11M (100%)
  Texas 3 (27%) - 11 (32%) 11M (100%)
  Oklahoma 1 (9%) - 4 (12%) -
  Massachusetts - - 4 (12%) -
  California 2 (18%) - 3 (9%) -
  Illinois 2 (18%) - 2 (6%) -
  Ohio 1 (9%) - 2 (6%) -
  Louisiana 1 (9%) - 2 (6%) -
  Washington 1 (9%) - 1 (3%) -
  West Virginia - - 1 (3%) -
  Rhode Island - - 1 (3%) -
  Indiana - - 1 (3%) -
  Arkansas - - 1 (3%) -
Canada - - 1 (3%) -
  Newfoundland - - 1 (3%) -
Total 11 - 34 $11M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 2 (18%) - 13 (38%) 11M (100%)
Growth Capital 5 (45%) - 13 (38%) -
Recapitalization 1 (9%) - 4 (12%) -
Stake Purchase 2 (18%) - 3 (9%) -
Consolidation 1 (9%) - 1 (3%) -
Total 11 - 34 $11M

Exits by Deal Type

Type Total # Value
Secondary Sale 8 (40%) 105M (70%)
Merger 4 (20%) -
Trade Sale - Public Company 3 (15%) 45M (30%)
Trade Sale 3 (15%) -
Bankruptcy 1 (5%) -
Sold to Management 1 (5%) -
Total 20 $150M

Top M&A Advisors

Financial Deals
Riveron Consulting LLC
2
Harris Williams & Co.
1
Quarton Partners LLC
1
Legal Deals
Locke Lord
11

Deal Values

buy # Total
< $100M 1 $11M
TOTAL $11M
Largest Wright Trucking, Inc.
$11M (2012-05-01)
sell # Total
$100M to $1B 1 $105M
< $100M 2 $45M
TOTAL $150M
Largest CP Energy Services, Inc.
$105M (2013-08-05)

M&A Connections

Deals
Exited to
Investor(s)
35%
7 (35%)
Strategic(s)
50%
10 (50%)

FAQ

When was Hastings Equity Partners founded?

Hastings Equity Partners was founded in 2004.

What type of investor is Hastings Equity Partners?

Hastings Equity Partners is a private equity firm.

Where is Hastings Equity Partners headquartered?

Hastings Equity Partners is headquartered in Boston, Massachusetts.

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