Hastings-backed MKD Electric Invests in XS Telecom

MKD Electric (Hastings Equity Partners) Acquires Sea-Tac Electric

April 16, 2025

Construction

MKD Electric, a Hastings Equity Partners portfolio company, has acquired Sea-Tac Electric, a Seattle-based full-service electrical contractor. The add-on expands MKD's physical footprint into the Pacific Northwest and strengthens its capabilities in grocery, manufacturing, retail and healthcare electrical construction.

MKD Electric (Hastings Equity) Acquires JSET Automated Technologies & D&L Electric

August 21, 2024

Electrical Services

MKD Electric, a Hastings Equity Partners portfolio company, has acquired JSET Automated Technologies and D&L Electric to expand its capabilities in data center services and broaden geographic penetration across the Southeastern United States. The add-ons reinforce MKD's position as a large nationwide non-union electrical contractor and expand its service offering for industrial, logistics and data center clients.

Hastings Equity Partners Invests in GridSource

December 22, 2022

Construction

Hastings Equity Partners has made a Fund V platform investment in GridSource, a Baton Rouge-based utility contractor, with founder Dusty Johnson retaining significant ownership and remaining active in management. Hastings said the investment will provide resources to grow GridSource’s telecom and gas infrastructure services to capitalize on accelerating broadband/fiber deployment and upcoming federal funding for broadband.

MKD Electric Acquires Bachelor Controls (Hastings Equity Partners Portfolio Company)

June 9, 2022

Industrial Services

MKD Electric, a portfolio company of Hastings Equity Partners, has invested in Bachelor Controls, a Sabetha, Kansas-based control systems integrator. The transaction expands MKD's automation and electrical service capabilities, broadens its geographic footprint, and strengthens offerings to food & beverage, pharmaceutical, and other manufacturing customers.

iQSTEL Acquires 51% Stake in QXTEL

January 23, 2024

Telecommunications

iQSTEL Inc. has entered into a binding agreement to acquire 51% of the capital stock of QXTEL, a wholesale telecommunications provider with offices across Miami, London, Buenos Aires, Istanbul, Belgrade and Dubai. Management said the deal nearly doubles iQSTEL's revenue, brings new wholesale carrier customers and executive talent, and will be integrated to drive operating efficiencies and margin expansion.

iQSTEL Acquires 51% of Lynk Telecom

May 10, 2024

Telecommunications

iQSTEL Inc. agreed to acquire a 51% membership interest in Lynk Telecom (Lynktel), adding an estimated $20 million in annual revenue and $1 million in annual net income. The transaction strengthens iQSTEL's U.S. presence by integrating Lynk Telecom's wholesale and retail telecom services and is expected to close by July 1, 2024 following due diligence.