Hastings-backed GridSource acquires telecom service provider WiseConnect

• KSM served as financial advisor to Hastings on the acquisition while Lincoln International was financial advisor to WiseConnect
• Hastings acquired GridSource in December 2022
• Founded in 2004, Hastings Equity Partners invests in the lower middle market

GridSource, which is backed by Hastings Equity Partners, has acquired Overland Park, Kansas-based WiseConnect, a telecommunications service provider. No financial terms were disclosed.

GridSource is a utility contractor in Baton Rouge, Lousiana.

The current senior leadership team will remain with WiseConnect.

Hastings acquired GridSource in December 2022.

On the deal, Rob Scaramella, a managing director at Hastings, said in a statement, “The combination of GridSource and WiseConnect is in line with Hastings’ investment thesis to create a scaled, diversified services platform that can meet the complete needs of our customers across the telecommunications lifecycle. WiseConnect’s national footprint, comprehensive service offering, and asset-light model complement GridSource’s best-in-class self-performance capability as the go-to installation and maintenance contractor for telecom and gas customers in its region.”

KSM served as financial advisor to Hastings on the acquisition while Lincoln International was financial advisor to WiseConnect.

WiseConnect’s services including infrastructure solutions, managed solutions, and network solutions.

Founded in 2004, Hastings Equity Partners invests in the lower middle market.
Hastings is based in Boston and Houston.