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.