Hastings Equity Partners has announced its seventh Fund III platform investment in Specialty Welding and Turnarounds LLC (SWAT).
SWAT is a leading provider of specialty welding and other turnaround services to refinery, petrochemical and industrial customers.
The investment in SWAT marks the first investment for Hastings Equity Fund III L.P. in the downstream services sector, which is set to be a key area of focus for the company moving forward.
Ted Patton, Managing Director of Hastings, said: “We are thrilled to partner with the talented team at SWAT […] SWAT’s highly technical capabilities, excellent safety culture and blue chip customer base explain the organisation’s incredible growth over the last four years. In addition, the organisation’s recent expansion into mechanical services will complement its already strong presence in specialty welding. Under the leadership of co-founders Johnny Holifield and Jimmy Quick, SWAT has an extremely bright future.”
Johnny Holifield, President and CEO of SWAT, added: “We pride ourselves on providing our customers unprecedented quality and results in the safest way possible, and are confident Hastings will support our growth moving forward […] Our partnership with Hastings allows us to further expand our service capabilities, geographic footprint and culture of best practices. With a team that is comprised of the industry’s best, there is no limit to what we can build here at SWAT.”
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/20042017/hastings-equity-partners-acquires-swat/