Hastings Equity Partners ("Hastings"), a preferred capital partner to founders of lower middle-market businesses, is pleased to announce its third Fund V platform investment in TERRA Staffing Group ("TERRA").
BOSTON, Feb. 7, 2023 /PRNewswire-PRWeb/ -- Hastings Equity Partners ("Hastings"), a preferred capital partner to founders of lower middle-market businesses, is pleased to announce its third Fund V platform investment in TERRA Staffing Group ("TERRA").
Headquartered in Everett, Washington, TERRA is a leading provider of staffing services for industrial, administrative, and technical staffing across a wide range of industries such as industrial, consumer products, food and beverage, and logistics. TERRA is currently managed by Greg Lambert (CEO) and Jenifer Lambert (CSO) and was founded over 40-years ago by Jenifer's mother. Today, TERRA operates out of 18 offices across five states and provides its customers with a full suite of outsourced HR services and solutions, allowing customers to focus on other key critical areas in their organizations. In 2022, TERRA was presented with the Best of Staffing® award for both client and talent satisfaction.
Grant Reckhow, Principal at Hasting, said of the investment, "the global labor shortage has affected companies everywhere – industrial and administrative roles are no exception. TERRA is uniquely positioned to capitalize on global trends in temporary labor market growth by providing unique, technology-driven solutions to companies with difficult-to-fill jobs that often strain Human Resource departments. TERRA has built an exceptional team over their 40-year history, and we look forward to partnering with Greg and Jenifer on this next phase of growth."
"Our business is about people and Hastings understood that from day one. Keeping our customers and our working associates satisfied and fulfilled is the key to success in our industry. Jenifer and I are excited for this partnership with Hastings which allow us to continue exceeding our customers' expectations. Most importantly we are excited about what this partnership will mean for TERRA and its continued growth ambitions. We look forward to announcing new locations into new metro areas and new states in the coming months," said Greg Lambert, CEO at TERRA.
TERRA's management team will retain significant ownership and will continue to be actively involved in day-to-day management of the business. Clients and jobseekers can expect the same commitment and personalized service from TERRA.
About TERRA Staffing Group
TERRA Staffing Group is an award-winning, west coast-based staffing firm that provides industrial, administrative, and technical staffing across industries such as industrial, consumer products, food and beverage, and logistics. The company was founded 40 years ago and today operates out of 18 offices in five states, visit: http://www.terrastaffinggroup.com
About Hastings Equity Partners
Founded in 2004, Hastings Equity Partners is a lower middle-market private equity firm. Hastings invests first institutional capital in North American founder-led companies within the industrial and business services sectors, where it has deep operating and investing experience. As a preferred capital partner, Hastings seeks to empower businesses to reach their full potential. For almost two decades, the firm has formed long-term partnerships with entrepreneurs while utilizing a hands-on approach to enhance operations, provide strategic support, and accelerate growth. For more information, visit http://www.hastingsequity.com
Media Contact
Eliza McGrath, Hastings Equity Partners, 1 781-314-9599, [email protected]
SOURCE Hastings Equity Partners
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