Hastings Equity Partners, a preferred capital partner to founders of lower middle-market businesses, is excited to announce that its portfolio company, MKD Electric, has successfully acquired two companies: JSET Automated Technologies, a Hastings-backed provider of data center services, and D&L Electric, a leading electrical contractor based in the Southeast.
BOSTON, Aug. 21, 2024 /PRNewswire-PRWeb/ -- Hastings Equity Partners ("Hastings"), a preferred capital partner to founders of lower middle market businesses, is pleased to announce that its portfolio company MKD Electric, LLC ("MKD") has acquired JSET Automated Technologies ("JSET"), a Hastings-backed data center services provider and D&L Electric, Inc ("D&L"), a Georgia-based electrical contractor.
This transaction, in line with MKD's strategy to grow organically and through acquisition, gives the business further exposure into the data center services market and provides complementary geographic penetration throughout the Southeastern US.
Acquired as a separate Hastings platform in late 2023, JSET (founded in 2020) specializes in building automation systems, installation and repairs, and electronic engineering services for data centers. The company is headquartered in Columbus, Ohio, and serves numerous blue-chip data center clients across the Midwest and Mid-Atlantic.
D&L, based in Covington, Georgia, focuses on design-build electrical work and maintenance for large industrial distribution, logistics, and manufacturing facilities across the Southeastern US. Founded in 2003 by Lee Woodham, D&L has built a respected reputation as the go-to-provider for large, complex electrical needs in the region.
"We are excited to add JSET and D&L to the MKD platform of businesses. These two companies will allow us to expand our market penetration and enhance our geographical coverage as we provide greater services and solutions to our customers," said Ed Maslak, CEO of MKD Electric. "With the additions of JSET and D&L, MKD is quickly becoming one of the premier non-union providers of electrical services in the country. We look forward to providing continued support to the company during this next exciting phase of growth," added Grant Reckhow, Principal at Hastings Equity Partners.
With this partnership, MKD is now one of the largest, nationwide non-union electrical contractors in the country, providing comprehensive solutions for a diverse set of customers.
About JSET Automated Technologies:
With over five decades of combined industry leadership, JSET has set the standard in developing sophisticated control systems for industrial motor controls and commercial HVAC systems. The Company's extensive experience spans across various sectors, with a specific expertise in providing robust solutions for complex electrical systems in data centers. For more information, visit https://jset.tech/.
About D&L Electric:
Founded in 2003, D&L Electric, is a licensed, full-service design build commercial and industrial electrical firm based in Covington, Georgia. With 30+ employees and a long history of successful projects, the Company is committed to providing the highest quality of service for its customers across the Southeast. For more information, visit www.dlelectricinc.net.
About MKD Electric:
Based in Elgin, Illinois, MKD Electric is one of the nation's leading full-service merit shop industrial electrical contractors, specializing in a variety of different services, including automation & controls, systems integration, and electrical testing. With its focus on key markets such as data centers, food processing, logistics, and manufacturing, MKD is dedicated to delivering best-in-class services to its customers nationwide. For more information, visit www.mkdelectric.com.
About Hastings Equity Partners:
Founded in 2004, Hastings Equity Partners is a lower middle-market private equity firm. Hastings invests first institutional capital in North American founder-led companies within the industrial and business services sectors, where it has deep operating and investing experience. As a preferred capital partner, Hastings seeks to empower businesses to reach their full potential. For almost two decades, the firm has formed long-term partnerships with entrepreneurs while utilizing a hands-on approach to enhance operations, provide strategic support, and accelerate growth. Learn more at https://www.hastingsequity.com/.
Media Contact
Joe Conlon, Hastings Equity Partners, 1 (281) 306-3156, [email protected], https://www.hastingsequity.com/
SOURCE Hastings Equity Partners
Share this article