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Hastings Equity Partners Invests in Bachelor Controls, Inc.
ELGIN, IL (June 9, 2022) – Hastings Equity Partners (“Hastings”) announced that its portfolio company, MKD Electric, LLC (“MKD”), a full-service industrial automation and electrical service platform, is pleased to announce its investment in Bachelor Controls, Inc. (“Bachelor Controls”). This is the fourth investment MKD has completed since Hastings Equity Partners, a private equity firm focused on investing in lower middle market businesses, acquired MKD in January 2021.
Based in Sabetha, KS, and founded in 1983, Bachelor Controls provides mission critical control and systems integration solutions for Fortune 500 clients primarily in the food and beverage, pet food, and specialty pharmaceutical industries. The company helps manufacturing plants achieve optimal production efficiency along with cutting-edge production automation. The partnership between MKD and Bachelor Controls will result in enhanced service offerings, a larger geographic footprint, and added strength to both companies core automation capabilities. “Over the last four decades we have developed innovative and robust batch automation solutions to solve some of our customers most pressing challenges. Our new partnership with MKD Electric enables us to better meet these needs, while also offering electrical installation, service, and maintenance capabilities in addition to our core suite of automation services. We are excited to continue our journey into our fifth decade as an MKD Electric company,” says Michael Bachelor, President of Bachelor Controls.
With a 25-year history of safety, high quality service, and exceptional performance, MKD provides engineering, installation, instrumentation, emergency response, and maintenance services for complex electrical systems to a blue-chip customer base with a diversified end market reach.
“MKD has developed specialized expertise and experience in the food and beverage, logistics, renewable energy, and industrial manufacturing industries. With the addition of Bachelor Controls and expanding our workforce of highly trained personnel, we are well positioned to meet the demanding technical needs and enhance the suite of service offerings to our customers,” says Greg Rzonca, Chief Executive Officer of MKD.
Grant Reckhow, Principal at Hastings, added “We are excited about the strategic fit between Bachelor Controls and MKD, and the two teams are already seamlessly working together. This acquisition greatly expands MKD’s presence in the automation market.”
About Hastings Equity Partners
Hastings Equity Partners is a private equity firm focused exclusively on the lower middle market. Hastings invests in North American business services and industrial companies, where it has deep operating and investing experience. Since 2004, the firm has formed long-term partnerships with entrepreneurs, providing first institutional capital, while accelerating growth and creating value. Learn more at www.hastingsequity.com.
About MKD Electric
MKD Electric is a full-service, nationally recognized electrical, instrumentation, and systems integration contractor boasting more than 450 employees. MKD designs, builds, installs, and maintains clients’ systems, projects, and facilities through continued emphasis on safety, quality, and service, utilizing industry-leading training initiatives and relationship focus. Learn more at www.mkdelectric.com.
About Bachelor Controls
Bachelor Controls is a leading provider of control and systems integration solutions to manufacturers with focused experience in the food and beverage, pet food, pharmaceutical, plastics, specialty chemicals, and feed and grain industries. Learn more at www.bachelorcontrols.com.
Eliza McGrath, Hastings Equity Partners