Hastings Equity Partners has made an investment in Elgin, Illinois-based MKD Electric Inc, an industrial automation and electrical service platform. No financial terms were disclosed. Locke Lord LLP provided legal counsel to Hastings while Graycliff Partners provided the financing for the transaction.
HOUSTON, Feb. 2, 2021 /PRNewswire/ — Hastings Equity Partners (Hastings), a preferred capital partner to founders of lower, middle-market businesses is pleased to announce its fourth Fund IV platform investment: MKD Electric, Inc. (“MKD”).
Based in Elgin, Illinois, MKD is one of the nation’s leading full-service industrial automation and electrical service platforms with a 25-year history of safety, high quality service, and exceptional performance. MKD provides engineering, design, installation, automation, instrumentation, emergency response, and ongoing maintenance services for complex electrical systems. MKD serves a blue-chip customer base with a diversified end market reach focused on the e-commerce, utility grade solar, industrial manufacturing, and chemical processing sectors. With a large workforce of highly trained personnel, MKD is well positioned to meet the demanding technical needs of its customers.
“We are excited to invest in MKD and partner with the Wesa family and the MKD team. MKD is an impressive company that has grown substantially since inception while never losing sight of its focus on safety, quality, value, and building lasting relationships with its clients. MKD has a very bright future and we are excited to be a part of it,” says Joe Conlon, Managing Director at Hastings Equity Partners.
“Collaborating with a partner like Hastings demonstrates MKD’s capabilities and performance as a national service provider and enables us, as an organization, to solidify our core business and set us up for continued growth – both now and in the future,” said Michael Wesa, President of MKD Electric. “This new partnership is just another step on our organization’s roadmap to provide best-in-class service nationwide and we’re looking forward to continuing to attain that vision together.”
Locke Lord LLP provided legal counsel to Hastings and financing was provided by Graycliff Partners.
About Hastings Equity Partners
Hastings Equity Partners is a preferred capital partner to founders of lower, middle-market industrial service businesses. Since 2004, we have helped businesses in high-growth end markets scale and accelerate by providing resources, operational expertise, and financial advice. By forming direct working relationships with founders, we demonstrate our value creation initiatives even before negotiating a transaction. This partnership-oriented investment model offers sellers an attractive alternative to traditional private equity.