Hastings Equity Partners has acquired Midland, Texas-based IMPACT! Chemical Technologies, a provider of specialty chemicals for oil and gas production and midstream companies. No financial terms were disclosed. Riveron Consulting LLC advised Hastings on the transaction.
HOUSTON, TX (December 1, 2016) – Hastings Equity Partners (“Hastings”), a private equity firm focused on investing in lower, middle-market energy services and equipment companies, is pleased to announce the acquisition of IMPACT! Chemical Technologies, Inc. (IMPACT!).
Based in Midland, Texas, IMPACT! is a leading provider of specialty chemicals to oil and gas production and midstream companies. Founded in 2010 by an executive management team with a combined 150 years of experience, IMPACT! supports its customers from 12 strategic locations across the most active shale plays in the United States. IMPACT!’s state of the art blending facility and in-house laboratory allow IMPACT! to provide the best products and services to its customers.
“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 they continue to grow their customer base and expand geographically. IMPACT! constantly strives to enhance its service capability and technical knowledge. We are excited to see what the future holds for IMPACT!.”
“I’m proud of the business we’ve built at IMPACT! and feel Hastings is the ideal partner to support our growth going forward,” said Brandon Martin, President of IMPACT!. “Our focus is to provide our customers with unprecedented quality, results, and customer service. Our partnership with Hastings allows us to immediately 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 fifth investment in Fund III by Hastings 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
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
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.