Hastings Equity Partners: Buy Box & Recent Acquisitions

At a glance

EBITDA range	$5M to $20M S3
Revenue range	$20M to $200M S3
Deal types	Platform, Add-on S3
Geography	North America S3
Sectors	Construction Services, HVAC, Plumbing & Electrical, Landscaping, Accounting & Professional Services

What Hastings Equity Partners buys

Hastings Equity Partners is a Boston firm, founded in 2004, that takes control of founder-led companies in North America, often as their first institutional investor. It focuses on industrial and business services, and its current holdings are mostly contractors and field service firms: electrical contracting (MKD Electric), fiber and gas utility construction (GridSource), traffic control (High Star Traffic), tree and vegetation work (Community Tree Service), industrial scaffolding and coatings (Axios Industrial Group) and, since May 2026, facility services for multi-site customers (Global Facility Management & Construction). It has raised five funds; Fund III focused on energy services, and Fund V is the one now investing.

For a new platform, Hastings looks for $20 million to $200 million of revenue and $5 million to $20 million of EBITDA, with three to five years of profitable growth and a founder who stays closely involved. It will look at smaller add-ons with $1 million or more of EBITDA. Its website says management teams invest alongside the firm in every deal.

Recent deals

Announced in the 24 months before October 20, 2026.

Date	Company	Type	Sector	Source
May 2026	Global Facility Management & ConstructionMelville, New York provider of repair, renovation, janitorial and restoration services to multi-site customers; the founders stay on as CEO and President	Platform	Construction Services	Source
Jan 2026	Specialty Welding and Turnarounds (SWAT)Hastings sold its minority stake when ORIX Capital Partners sold SWAT to Brown & Root Industrial Services	Exit		Source
Apr 2025	Sea-Tac ElectricSeattle electrical contractor added to MKD Electric, its first West Coast location	Add-on	HVAC, Plumbing & Electrical	Source
Feb 2025	B. RobinsonTexas fiber optic construction and micro-trenching firm added to GridSource	Add-on	Construction Services	Source
Jan 2025	Brittain ElectricGeorgia electrical contractor added to MKD Electric	Add-on	HVAC, Plumbing & Electrical	Source
Oct 2024	Southwest Contracting & AssociatesNew Mexico tree thinning provider added to Community Tree Service	Add-on	Landscaping	Source

Portfolio by sector

From the firm's portfolio page S4.

Business & Industrial Services

Axios Industrial Group
Celerity Consulting Group
Community Tree Service
Global Facility Management & Construction
GridSource
High Star Traffic
Imperative Chemical Partners
MKD Electric
Refractory Construction Services
Verstela

Past investments: Specialty Welding and Turnarounds, Code Red Safety, RL Drake, Fluid Management, Cactus Fuel, Quality Aircraft Accessories, Seacon Phoenix, Advanced Precision Products

Greymont’s take

How Hastings Equity Partners fits a seller

Hastings fits the founder of a contracting or field service business, such as electrical, utility, traffic control or tree work, who has never taken outside capital and wants a partner to help the company grow. The firm usually buys control and keeps the founders involved: at Global Facility Management & Construction in May 2026, the two founders stayed on as CEO and President. Its platforms then add regional competitors, as MKD Electric did with Brittain Electric in Georgia and Sea-Tac Electric in Washington in 2025.

Hastings can hold a company for a long time; it kept a minority stake in SWAT for about eight years before the January 2026 sale. An owner should ask which fund would make the investment, how long the firm expects to hold the business, and how much equity management is expected to roll into the deal.

Questions owners ask

How large a company does Hastings Equity Partners buy?

For new platforms it looks for $20 million to $200 million of revenue and $5 million to $20 million of EBITDA. For add-ons to its existing companies it will consider businesses with $1 million or more of EBITDA.

Does Hastings buy electrical or other trade contractors?

Yes. Its MKD Electric platform added Brittain Electric of Georgia in January 2025 and Sea-Tac Electric of Seattle in April 2025, and the firm describes MKD as one of the largest non-union electrical contractors in the country.

Does the founder stay involved after Hastings invests?

Usually. The firm says it looks for highly engaged founders, and its website states that management invests alongside it in every deal. At Global Facility Management & Construction, the founders continued as CEO and President after the May 2026 investment.

Sources

S1Hastings Equity Partners home page Accessed October 20, 2026
S2Hastings Equity Partners: Overview Accessed October 20, 2026
S3Hastings Equity Partners: Our Approach and Investment Criteria Accessed October 20, 2026
S4Hastings Equity Partners: Investments Accessed October 20, 2026
S5Hastings Equity Partners: Contact Accessed October 20, 2026
S6Hastings Equity Partners: News Accessed October 20, 2026
S7Hastings Equity Announces Partnership With Global Facility Management & Construction (May 26, 2026) Accessed October 20, 2026
S8ORIX Capital Partners Completes Sale of Specialty Welding and Turnarounds (January 6, 2026) Accessed October 20, 2026
S9Hastings Equity Partners Completes the Sale of Code Red Safety to Warren Equity Partners (September 20, 2022) Accessed October 20, 2026
S10Hastings Equity Partners Invests in Celerity Consulting Group (July 12, 2021) Accessed October 20, 2026
S11Hastings Equity Partners Acquires Baton Rouge Utility Contractor GridSource (December 22, 2022) Accessed October 20, 2026

Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Hastings Equity Partners. Figures are as reported on the dates shown and may have changed. Request a correction