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Hastings Equity Partners invests in energy-services firm A&L Industrial

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Hastings Equity Partners invests in energy-services firm A&L Industrial

Lower-middle-market investor Hastings Equity Partners LLC invested an undisclosed amount in A&L Industrial Services.

Deer Park, Texas-based A&L provides scaffolding, insulation and industrial coating services to refineries, petrochemical plants and liquefied natural gas facilities on the U.S. Gulf Coast.

The transaction, which marks the second investment by the private equity firm's Fund IV, is expected to broaden A&L's geographic presence and customer base.

Hastings is a Houston-based firm targeting energy services and equipment companies.

Locke Lord LLP served as legal adviser to Hastings, while Cadence Bank financed the transaction.