Hastings Notches Fourth Fund IV Platform
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Hastings Notches Fourth Fund IV Platform

Hastings Equity Partners has acquired MKD Electric, a provider of electrical contracting services.

MKD provides engineering, design, installation, automation, instrumentation, emergency response, and ongoing maintenance services for complex electrical systems.

The company’s customers are active in the e-commerce, utility-grade solar, industrial manufacturing, and chemical processing sectors. MKD was founded in 1995 by Mark Wesa and is headquartered near Chicago in Elgin, Illinois.

“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, the president of MKD. “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.”

“We are excited to invest in MKD and partner with the Wesa family and the MKD team,” said Joe Conlon, a managing director at Hastings. “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.”

Houston-based Hastings invests in energy services and equipment companies (upstream, midstream, and downstream) with EBITDA from $4 million to $20 million. Hastings’ approach is to leverage the operational experience of the firm’s managers and investors, many of whom are active or former CEOs of Fortune 1000 companies.

The buy of MKD is the firm’s fourth platform for its fourth fund which closed in 2018.

© 2021 Private Equity Professional | February 3, 2021

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