Investment Summary

Hastings Equity Partners Invests In Imperative

On March 1, 2014, private equity firm Hastings Equity Partners invested in chemicals company Imperative

Investment Highlights
  • This is Hastings Equity Partners’ 2nd transaction in the Chemicals sector.
  • This is Hastings Equity Partners’ 15th transaction in the United States.
  • This is Hastings Equity Partners’ 3rd transaction in Texas.

Investment Summary

Date 2014-03-01
Target Imperative
Sector Chemicals
Investor(s) Hastings Equity Partners
Deal Type Growth Capital

Target

Imperative

Midland, Texas, United States
website
Imperative is a provider of specialty chemicals, in-field technical support and laboratory services to exploration and production and pipeline companies in the most active shale plays in the United States. Imperative is largely focused in the Permian Basin with additional locations in the Eagle Ford, Mid-Continent, Barnett, Bakken and Haynesville Shales. Imperative is based in Midland, Texas.

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Investor(S) 1

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 16 of 34
Sector (Chemicals) 2 of 3
Type (Growth Capital) 4 of 13
State (Texas) 3 of 11
Country (United States) 15 of 33
Year (2014) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-01 Danlin Industries

Thomas, Oklahoma, United States

Danlin Industries, Inc. provides chemicals to support drilling, production, and transportation of oil and natural gas. The company has 24 locations throughout the US and is headquartered in Thomas, OK.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-04 SPL

Houston, Texas, United States

SPL is an independent provider of critical outsourced hydrocarbon measurement, analysis, and reporting services for oil and gas production and transport in the United States. The Company provides a comprehensive suite of gas and liquid laboratory tests and related field services from its network of 8 labs and 14 field service locations across the U.S. and counts leading independent and major exploration and production companies, as well as midstream operators, among its customers. SPL’s test and measurement services enable its customers to evaluate the composition of the hydrocarbons they are producing to fine-tune production from wells, market products downstream, meet regulatory reporting requirements, and ensure accurate payment of royalties to leaseholders. Southern Petroleum Laboratories was founded in 1944 and is based in Houston, Texas.

Buy -