HOUSTON, TX (August 7, 2024) – Genesis Park, through its investment fund, Genesis Park Partners, LP (“Genesis Park”), is pleased to announce the successful exit of its investment in Opifex (the “Company”), which merged with Synergy Equipment (“Synergy”), a portfolio company of Avance Investment Management (“Avance”), to form the largest independent equipment rental company in the United States. Opifex is the leading independent equipment rental provider in the large and fast-growing Central Texas markets and will continue to operate under the Opifex brand.
Opifex offers construction equipment rental and supplies across the Austin, San Antonio, and College Station Markets. The Company primarily serves a diverse base of large construction contractors in infrastructure, commercial, and industrial end markets. Opifex utilizes a high-quality, Company-owned fleet that is comprised of over 2,600 machines from leading brands such as John Deere, JLG, Genie, and Case Construction. The Company operates with a singular, “customer first” focus, providing customized equipment rental solutions combined with industry-leading customer service.
Genesis Park made its initial platform investment by leading a $65 million growth financing in 2022, followed by an equity investment in early 2024, to provide growth capital for the Company to further expand its equipment rental fleet. Genesis Park has worked closely with Opifex management to nearly triple the size of its rental fleet and grow its customer base, which has supported the Company’s rapid growth within the region.
Jay Vaughn, Executive Chairman of Opifex, said, “We are tremendously grateful for Genesis Park’s partnership and support over the last few years. Genesis Park, aside from their capital, added value by helping professionalize the business and providing introductions to key relationships from their network which accelerated our growth. We are grateful for Genesis Park’s belief in our team, and their help in achieving the bold vision that we established at the inception of our partnership. I have total confidence in the Genesis Park team and I would not hesitate to recommend their firm to a business owner in need of flexible capital.”
Gina Luna, Managing Partner of Genesis Park said, “We couldn’t be happier for the Opifex team and with the outcome of this investment. Opifex has distinguished itself as the leading independent equipment rental provider in Texas, which is attributable to the exceptional management team and strong culture they have built. Avance, through the Synergy platform, is the ideal partner to support the Company through its next phase of growth as they look to expand into additional Texas markets. We will be cheering for their continued success.”
For more information, visit www.opifexenterprises.com
About Genesis Park
Genesis Park is a Houston-based private investment firm. Its current investment fund, Genesis Park Partners, LP, is licensed as a Small Business Investment Company (“SBIC”) by the U.S. Small Business Administration. Genesis Park supports growth and later stage lower middle market businesses through flexible debt and equity capital solutions and strategic guidance. Genesis Park generally targets companies with at least $10 million of revenue and $3 million of EBITDA, with proven business models and seasoned management teams. Managed by three experienced investment professionals with broad regional relationships, Genesis Park 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.
