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GP Capital Partners Leads $65MM Growth Financing for Opifex Enterprises

June 29, 2022, 07:15 AM
Filed Under: Rental Equipment

GP Capital Partners announced its recent investment in Opifex LLC, 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, Chief Operating Officer 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."

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