M&A Deal Summary

Hastings Equity Partners Acquires GridSource

On December 22, 2022, private equity firm Hastings Equity Partners acquired construction company GridSource

Acquisition Highlights
  • This is Hastings Equity Partners’ 3rd transaction in the Construction sector.
  • This is Hastings Equity Partners’ 31st transaction in the United States.
  • This is Hastings Equity Partners’ 2nd transaction in Louisiana.

M&A Deal Summary
Date 2022-12-22
Target GridSource
Sector Construction
Buyer(s) Hastings Equity Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

GridSource

Baton Rouge, Louisiana, United States
GridSource is a contractor that specializes in infrastructure solutions for the telecom and gas industries. GridSource offers a broad suite of services, including outside plant fiber construction, aerial and underground capabilities, inside plant network construction, gas distribution services, underground electrical services, and contract design and engineering. GridSource is based in Baton Rouge, Louisiana.

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Buyer(S) 1

Buyer

Hastings Equity Partners

Investor Investor Investor Investor Investor

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 32 of 34
Sector (Construction) 3 of 3
Type (Buyout (LBO, MBO, MBI)) 13 of 13
State (Louisiana) 2 of 2
Country (United States) 31 of 33
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-01 Code Red Safety

Hammond, Indiana, United States

Code Red Safety is a provider of integrated safety solutions. The Company rents and sells industrial safety equipment, and provides specialty services for the petrochemical, refining, manufacturing, utility and construction end markets. Code Red’s comprehensive suite of safety products and services enhance worker safety and ensure compliance with government regulations. Code Red Safety was founded in 1995 and is based in Hammond, Indiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-07 Terra

Everett, Washington, United States

Terra is a provider of staffing services for industrial, administrative, and technical staffing across a wide range of industries such as industrial, consumer products, food and beverage, and logistics. It operates out of 18 offices across five states and provides its customers with a full suite of outsourced HR services and solutions, allowing customers to focus on other key critical areas in their organizations. Terra is based in Everett, Washington.

Buy -
Mergr

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