Imperative Chemicals was a strategically planned platform roll-up in the heart of the Permian Basin. Hastings Equity Partners made its first investment in March of 2014, while oil was still $108/bbl. With extensive industry knowledge and understanding of long-term oilfield economics, Hastings strategically invested through the downturn. And over the course of 36 months brought together seven chemical service companies with a stronger market position and growth strategy.
Building a solid growth strategy in a competitive, fragmented market
Implementing scalable operational systems and controls to support growth
Bringing together seven management teams with a shared vision and mission
Enhancing back office support to facilitate growth
Created the largest independent production chemical business in the Permian Basin
Enhanced procedures for inventory and fleet management, field ticketing and performance monitoring to improve efficiency and support scaled operations
Supported a new market position and shared vision for the merged companies
Established a Board of Directors including outside directors Spencer Armour, Chairman of ProPetro, and Kelly Raper, Former CEO of Priority Artificial Lift
Four years after making its initial acquisition, Imperative Chemicals is now the largest independent chemical services company in the Permian and maintains over 30 service locations across the country. With the scale of a large production and midstream chemical company and the agility of a small business, Imperative Chemicals can now partner with the largest operators—and offer a more flexible, service-oriented approach.
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