Hastings Equity Partners has purchased Impact Chemical Technologies, a specialty chemicals provider to the oil and gas industries, for an undisclosed amount. The deal marks as the fifth investment in oilfield chemicals from the firm’s third equity fund, Hastings Equity Fund III L.P. Impact is a Midland, Teas-based manufacturer of chemical solutions to oil and gas companies in the U.S. Founded in 2010, the target offers a full-service laboratory with chemical engineers and chemists capable of identifying and resolving production issues. Among Impact’s variety of chemical products are: acid systems, bacteriacides, chemical sticks, clay stabilizers, scale inhibitors and corrosion inhibitors, defoamers, demulsifiers, gas well foamers, hydrogen sulfide scavengers, oxygen scavengers, paraffin control compounds, remediation products and surfactants. The target has 15 strategic locations across Texas, Oklahoma, New Mexico and North Dakota. Hastings is a middle-market private equity firm with offices in Houston and Boston. The PE firm invests in lower middle-market businesses in the energy sector. The firm invested in other businesses from the Hastings Equity Fund III L.P. including: Bullseye Testing, Cactus Fuel, Caprock Laboratories, Desert Downhole Tools, Elite Treating Solutions, Escudero Chemicals, Hybrid Tool Solutions, Select Technologies, and WadeCo Specialties. Recent oil and gas-related deals include: Carlyle Group LP’s (Nasdaq: CG) agreement with French oil company Total SA to acquire its specialty chemicals unit Atotech for $3.2 billion; PDC Energy Inc.’s (Nasdaq: PFCE) acquisition of two oil drilling companies from Kimmeridge Energy Management Co. for nearly $1.5 billion; and GPM Investments LLC’s closing a deal to buy two gas station brands from Sun Capital Partners Inc. Locke Lord LLP is acting as legal counsel to Hastings and Riveron Consulting LLC is serving as financial adviser.