HOUSTON, Dec. 1, 2016 /PRNewswire/ -- 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. Its state-of-the-art blending facility and in-house laboratory allow IMPACT! to identify and solve production problems. "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 the company continues to grow its customer base and expand geographically. IMPACT! strives to enhance its service capability and technical knowledge, and we are excited to see what the future holds." "I'm proud of the business we've built at IMPACT! and feel Hastings is the ideal partner to support our growth moving forward," said Brandon Martin, president of IMPACT!. "Our focus is to provide consumers with unprecedented quality, results and customer service, and our partnership with Hastings will allow us to 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 firm's fifth investment in Hastings Equity Fund III, L.P. ("Fund III") in oilfield specialty chemicals.