Hastings Equity Partners
Hastings Equity Partners is a Boston-based lower middle-market private equity firm founded in 2004 that invests in founder-led North American businesses through five sequential funds, providing first institutional capital, operational support, and add-on acquisition strategy.
- Company typePrivate
- Founded2004
- HeadquartersNeedham, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Hastings Equity Partners does
Hastings Equity Partners is a Boston-based private equity firm founded in 2004 that serves as a lower middle-market capital partner to founder-led and owner-operated businesses across North America. The firm targets companies with $20-200MM in revenue and $5-20MM in EBITDA, typically providing the first institutional capital to entrepreneurs seeking growth capital, operational expertise, and exit planning support. Hastings differentiates through a partnership-first approach, 100% management team co-investment alongside its funds, and a hands-on operational model that emphasizes preserving founder culture while scaling through organic growth and add-on acquisitions.
The firm operates through five sequential investment funds (Fund I through Fund V), having deployed capital into 29 platform companies and 48 add-on acquisitions across 70+ businesses over its 20-year history. Sector concentration is heaviest in business and industrial services, with notable platforms in data center services (MKD Electric, JSET Automated Technologies, PowerCor), utility infrastructure (GridSource, XS Telecom), vegetation management (Community Tree Service), traffic control (High Star Traffic), industrial staffing (TERRA/ASG), and facility services (Global Facility Management & Construction, added in 2026). Revenue mechanics combine recurring fund management fees on committed capital with performance-driven carried interest on exits; the firm reports a 2.3x average revenue increase on exited investments and a standout SPL exit at 8x EBITDA (2.9x Gross MOI, 76% Gross IRR).
Hastings sources deals through a proprietary network of 20,000+ active deal-sourcing relationships supplemented by a dedicated business development function. The investment team of approximately 13 professionals is led by Founder and Managing Director Ted Patton alongside Managing Directors Joe Conlon and Rob Scaramella, with additional Principals, a CFO, and a Vice President. The firm's go-to-market is field-based, with direct founder outreach as the primary acquisition channel for new portfolio companies and institutional limited partner fundraising as the distribution channel for fund capital.
Hastings Equity Partners firmographics
Firmographics- Name
- Hastings Equity Partners
- Legal name
- Hastings Equity Partners
- Website
- https://hastingsequity.com
- Company type
- Private
- Founded year
- 2004
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Hastings Equity Partners is a Boston-based lower middle-market private equity firm founded in 2004 that invests in founder-led North American businesses through five sequential funds, providing first institutional capital, operational support, and add-on acquisition strategy.
- Ownership category
- akta.pro rank
Hastings Equity Partners industry classification
Industry- Product category
- Private Equity Investment Management
- NAICS
- Other Investment Pools and Funds (5259)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Multi-Sector / Generalist Growth Equity (FSANACAO)
- akta.pro secondary industry
- Telecom, Networking & Infrastructure Growth Equity (FSANACAJ)
Keywords
Where Hastings Equity Partners is headquartered
LocationHeadquarters
- HQ city
- Needham
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Hastings Equity Partners business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Fund Management Fees: Hastings generates revenue through management fees charged on the funds under management. The firm has raised five investment funds (Fund I through Fund V) and charges standard private equity management fees on committed capital.
- Carried Interest (Performance Fees): The firm earns carried interest on profitable exits from portfolio companies. Historical performance includes 2.3x average revenue increase on exited investments, demonstrating the carried interest potential from successful realizations.
Go-to-market motion2 records
Distribution channels1 record
Marketing channels4 records
Hastings Equity Partners product offering
Product offeringCore offering
Hastings Equity Partners is a private equity firm that invests in founder-led, lower middle-market businesses across North America. The firm deploys institutional capital through five investment funds (Fund I through Fund V) while providing operational expertise, strategic guidance, and add-on acquisition support to help portfolio companies scale and achieve successful exits.
Product overview
Hastings Equity Partners is a private equity firm that provides investment capital and operational partnership services to founder-led, lower middle-market businesses in North America. The firm does not offer a technology product platform; rather, it offers private equity investment services including capital deployment, operational expertise, and strategic support to help portfolio companies scale. The company's service is delivered through its investment funds (Fund I through Fund V) and focuses on industries including business and industrial services, energy services, and infrastructure-related sectors.
Differentiator
Problem solved
Functional benefit
Products and services
- Fund I (Private Equity Fund) Hastings' inaugural lower middle-market private equity fund, focused on industrial and business services investments, deploying institutional capital into 4 platform companies and 4 add-on acquisitions.
- Fund II (Private Equity Fund) Hastings' second lower middle-market private equity fund, investing in 7 platform companies and 5 add-on acquisitions.
- Fund III (Private Equity Fund) Hastings' third lower middle-market private equity fund, focused on energy services, investing in 8 platform companies and 19 add-on acquisitions.
- Fund IV (Private Equity Fund) Hastings' fourth lower middle-market private equity fund, investing in 6 platform companies and 15 add-on acquisitions.
- Fund V (Private Equity Fund) Hastings' currently active fifth lower middle-market private equity fund, deploying capital into multiple platform investments and add-on acquisitions across industrial, utility, staffing, electrical, and data center services.
Quantifiable outcome
- 2.3x average revenue increase on exited investments
- +5 more outcomes
Companies that use Hastings Equity Partners
Customer profileNamed customers9 records
Segments3 records
Ideal customer profiles2 records
Hastings Equity Partners technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Hastings Equity Partners partnerships and signals
Strategic signalScale indicators10 records
Recent moves6 records
Expansion highlights5 records
Hastings Equity Partners competitors and assessment
Company assessmentDirect peers
- Garnett Station Partners: Lower middle-market PE firm partnering with founder-led business services and consumer companies, sharing Hastings' emphasis on first-institutional-capital relationships and operational partnership.
- Lee Equity Partners: Lower middle-market PE firm focused on business services and financial services, with comparable fund sizing and a partnership-driven model aligned with Hastings' founder-friendly positioning.
- Audax Group: One of the largest dedicated lower middle-market private equity firms, with a similar focus on founder/owner-led industrial and business services companies and a comparable buy-and-build playbook across multiple funds.
- Wynnchurch Capital: Lower middle-market PE firm focused on industrial, business services and value-added distribution, with comparable mid-sized fund vintages and operational improvement orientation aligned with Hastings' industrial services thesis.
- Riverside Partners: Lower middle-market PE firm focused on industrial and healthcare-related services, with similar fund vintages and a hands-on operating approach that overlaps with Hastings' industrial services portfolio.
- Bertram Capital: Lower middle-market PE firm emphasizing founder- and family-owned industrial and consumer businesses with a hands-on operating partner model that closely mirrors Hastings' partnership-first approach.
- Kian Capital Partners: Lower middle-market PE firm focused on industrial and business services with a buy-and-build strategy, overlapping with Hastings on platform-and-add-on construction in fragmented services niches.
- Quad-C Management: Middle-market private equity firm investing in business services, consumer and specialty industrials, with comparable fund sizing and a similar lower middle-market founder-focused investment lens.
- Aterian Investment Partners: Lower middle-market PE firm investing in founder-led industrial, business services and consumer companies with a buy-and-build orientation directly comparable to Hastings' strategy.
Broad incumbents
- Genstar Capital: Larger middle-market PE firm with significant industrial, business services and financial services exposure; competes for some of the same founder-led assets but at higher end of the size range and with materially larger fund vintages.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Hastings Equity Partners social profiles
Digital presenceHastings Equity Partners financial estimates
Financial estimateRevenue estimate
Valuation estimate
Hastings Equity Partners leadership team
Management profileNumber of profiles
Profiles14 records
Hastings Equity Partners subsidiaries and ownership
Company hierarchySubsidiaries13 records
Hastings Equity Partners funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Hastings Equity Partners M&A and investment
M&A and investmentM&A8 records
Investments16 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Hastings Equity Partners
What does Hastings Equity Partners do?
Hastings Equity Partners is a private equity firm that invests in founder-led, lower middle-market businesses across North America. The firm deploys institutional capital through five investment funds (Fund I through Fund V) while providing operational expertise, strategic guidance, and add-on acquisition support to help portfolio companies scale and achieve successful exits.
Is Hastings Equity Partners a public or private company?
Hastings Equity Partners is a private company. It is classified as management employee owned and is currently operating.
When was Hastings Equity Partners founded?
Hastings Equity Partners was founded in 2004. It employs 11 to 50 people.
Where is Hastings Equity Partners based?
Hastings Equity Partners is headquartered in Needham, United States, in the North America region.
How does Hastings Equity Partners make money?
Two revenue lines are on record. Fund Management Fees are the primary driver. The others are carried Interest (Performance Fees).
Who are Hastings Equity Partners's main competitors?
Direct peers on record are Garnett Station Partners, Lee Equity Partners, Audax Group, Wynnchurch Capital, Riverside Partners, Bertram Capital, Kian Capital Partners, Quad-C Management and Aterian Investment Partners. Genstar Capital is listed as a broad incumbent.
Does Hastings Equity Partners have an API?
No public API is recorded for Hastings Equity Partners.
What industry is Hastings Equity Partners in?
Hastings Equity Partners's product category is Private Equity Investment Management. Its primary akta.pro industry code is FSANACAO, Multi-Sector / Generalist Growth Equity, with a secondary code of FSANACAJ, Telecom, Networking & Infrastructure Growth Equity. Its NAICS code is 5259 and its SIC code is 6282.