HOUSTON, June 28, 2022 – GP Capital Partners, LP (“GP Capital”) is pleased to announce its recent investment in Opifex LLC (“Opifex” or the “Company”), an independent provider of construction rental equipment and supplies to the industrial, infrastructure, sports, and commercial building construction markets. The Company qualifies as a Texas minority owned business and manages a fleet that includes more than $50 million in assets.
Opifex is among the fastest growing equipment rental companies in North America. Beyond GP Capital, the company’s funding sources include CNH Industrial Capital, John Deere Financial, DLL (a global asset finance company for equipment and technology), and The Huntington National Bank. This growth financing positions Opifex to double the size of the Company’s rental fleet and expand its physical footprint into additional Texas markets.
Opifex, founded in 2018 and headquartered in Austin, TX, offers construction equipment rental and supplies primarily in the Austin, San Antonio, and College Station markets. Within those fast-growing markets Opifex is the only minority owned (Black HUB / MBE / DBE) construction equipment rental company operating at scale. The Company operates with a singular, “customer first” focus, providing customized equipment rental solutions coupled with industry-leading customer service.
Connor Navalta, COO of Opifex, said, “We prioritize service over profits, by utilizing more service trucks and delivery trucks to ensure responsiveness. This growth capital enhances our ability to sustain our commitment to quality and service. Our employees are the key to our success, and our strengthened financial position allows us to continue to be an employer of choice.”
Stefan Gresham, CEO of Opifex, said, “We are grateful for the support we have received from GP Capital, our equipment financing partners, our clients, the Austin SMBR office, the National Minority Supplier Development Council, and the Texas HUB office. We hope to serve as an example for all entrepreneurs of color who are looking for a place in the construction industry.”
Gina Luna, Managing Partner of GP Capital, said, “We are excited to partner with the Opifex team and support its growth. The Company is led by an impressive management team of ambitious and energetic individuals that provide outstanding service to their clients. The tremendous growth and success over the last three years are evidence of their ability to execute.”
Founded in 2018 and based in Austin, Texas, Opifex is one of the fastest growing companies in Austin. Opifex utilizes a Company-owned rental fleet that is comprised of over 1,500 machines from leading brands such as John Deere, JLG, and Case Construction. Opifex is the only minority owned (Black HUB / MBE / DBE) construction equipment rental company in Texas and primarily serves the Austin, San Antonio, and College Station markets. For more information, visit www.opifexenterprises.com.
About GP Capital Partners, LP
GP Capital is a Houston-based private credit and equity investment firm licensed as a Small Business Investment Company (“SBIC”) by the U.S. Small Business Administration. The Fund supports growth and later stage small businesses in the lower middle market through flexible capital solutions and strategic guidance. The Fund generally targets companies with at least $10 million of revenue and $2 million of EBITDA, with proven business models and seasoned management teams. Founded and managed by four experienced investment professionals with broad regional relationships, GP Capital is committed to partnering with the companies and management teams in which it invests to facilitate growth, transition, and success. For more information, visit www.genesis-park.com.