Investment Summary

Hastings Equity Partners and Tecum Capital Invest In Terra

On February 7, 2023, private equity firms Hastings Equity Partners and Tecum Capital invested in staffing company Terra

Investment Highlights
  • This is Hastings Equity Partners’ 1st and Tecum Capital’s 2nd transaction in the Staffing sector.
  • This is Hastings Equity Partners’ 32nd and Tecum Capital’s 77th transaction in the United States.
  • This is Hastings Equity Partners’ 1st and Tecum Capital’s 1st transaction in Washington.

Investment Summary

Date 2023-02-07
Target Terra
Sector Staffing
Investor(s) Hastings Equity Partners
Tecum Capital
Deal Type Growth Capital

Target

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.

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Investor(S) 2

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 33 of 34
Sector (Staffing) 1 of 1
Type (Growth Capital) 12 of 13
State (Washington) 1 of 1
Country (United States) 32 of 33
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-22 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-09 JSET

Hilliard, Ohio, United States

JSET specializes in building automation systems, installation and repairs, and electronic engineering services for data centers. JSET was formed in 2020 and is headquartered in Columbus, Ohio.

Buy -
Investor

Tecum Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tecum Capital is a private equity firm focused on lower middle-market companies across the Eastern-US. Tecum will consider a variety of investment situations including leveraged buyouts, management buyouts, successions, strategic acquisitions, growth capital financings, and recapitalizations. Investment sizes range from $5 - $20 million. Industries of interest include manufacturing, plastics, specialty distribution, technology, healthcare services, defense, food, and business/consumer services. Tecum will not consider investments in start-ups or real estate. Tecum Capital was formed in 2005 and is based in Wexford, Pennsylvania.


DEAL STATS #
Overall 77 of 82
Sector (Staffing) 2 of 2
Type (Growth Capital) 26 of 28
State (Washington) 1 of 1
Country (United States) 77 of 82
Year (2023) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-10 HoodMart

Elyria, Ohio, United States

HoodMart specializes in the design, manufacture and sale of ventilation systems (exhaust hoods) for the large and growing commercial cooking industry. HoodMart is based in Elyria, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-07 Pinnacle Cranes

Charlotte, North Carolina, United States

Pinnacle Cranes is a provider of equipment, service, technology, and rental services to the construction, power generation, material handling, and warehouse solutions industries throughout North Carolina, South Carolina, and other Southeast markets. Pinnacle Cranes was founded in 2001 and is based in Charlotte, North Carolina.

Sell -