"We couldn't be more impressed with the experienced and talented team at IMPACT!," said Ted Patton, managing director of Hastings Equity Partners. "We will support IMPACT! as the company continues to grow its customer base and expand geographically. IMPACT! strives to enhance its service capability and technical knowledge, and we are excited to see what the future holds."
"I'm proud of the business we've built at IMPACT! and feel Hastings is the ideal partner to support our growth moving forward," said Brandon Martin, president of IMPACT!. "Our focus is to provide consumers with unprecedented quality, results and customer service, and our partnership with Hastings will allow us to enhance our capabilities as a leader in specialty chemicals for the oil and gas industry."
The acquisition of IMPACT! is a major milestone for Hastings as it marks the firm's fifth investment in Hastings Equity Fund III, L.P. ("Fund III") in oilfield specialty chemicals.
Locke Lord LLP served as legal counsel to Hastings during the transaction with advisory services provided by Riveron Consulting LLC.
About Hastings Equity Partners
Hastings Equity Partners is a private equity firm focused on investing in lower, middle-market energy services and equipment businesses. Hastings' approach is to leverage the extensive operational experience of the firm's managers and investors, many of whom are active or former CEOs of Fortune 1000 companies. In addition, due to the firm's expanding portfolio of oilfield services companies, it is able to share best practices, technology trends and contacts across its platform to ensure that all of its investments benefit. Hastings strives to help its portfolio companies create sustained value for their employees, customers, and investment partners. Learn more at www.hastingsequity.com.
About IMPACT! Chemical Technologies, Inc.
IMPACT! is a leading provider of specialty chemicals to oil and gas production and midstream companies across the most active shale plays in the United States. Formed in 2010, IMPACT! offers a full service, state-of-the-art laboratory with chemical engineers, expert chemists and technicians equipped to identify and solve production problems in multiple locations.
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SOURCE Hastings Equity Partners