Hastings Equity Partners invests in utility contractor GridSource

GridSource founder Dusty Johnson retains significant ownership and will continue to be actively involved in day-to-day management of the business.

  • Locke Lord provided legal counsel to Hastings on the investment while KSM provided financial advisory services
  • Hastings Equity Partners invests in lower middle-market companies within the industrial and business services sectors
  • Hastings was founded in 2004

Hastings Equity Partners has made an investment in Baton Rouge, Louisiana-based GridSource Inc, an utility contractor that specializes in infrastructure solutions for the telecom and gas industries. No financial terms were disclosed.

On the transaction, Joe Conlon, managing director at Hasting Equity, said in a statement, “Hastings has deep experience working in the industrial field-services market. The rapid growth in fiber deployment stemming from a more connected world creates significant growth opportunities for project and construction management services provided by GridSource. The telecom industry and the federal government have come together to ensure that every home in America is provided with the opportunity to enjoy the benefits of this greater connectivity.”

Moving forward, Founder Dusty Johnson retains significant ownership and will continue to be actively involved in day-to-day management of the business.

Locke Lord provided legal counsel to Hastings on the investment while KSM provided financial advisory services. Also, Forvis provided tax services, and Equity Risk Solutions provided insurance services to Hastings.

Founded in 2004, Hastings Equity Partners invests in lower middle-market companies within the industrial and business services sectors.