GP Capital Partners Provides $65MM in Growth Financing to Opifex

GP Capital Partners invested $65 million in Opifex, 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. 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, TX; San Antonio; and College Station, TX, markets. Within those markets Opifex is the only minority-owned equipment rental company operating at scale.

“We prioritize service over profits by utilizing more service trucks and delivery trucks to ensure responsiveness,” Connor Navalta, COO of Opifex, said. “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.”

“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,” Stefan Gresham, CEO of Opifex, said. “We hope to serve as an example for all entrepreneurs of color who are looking for a place in the construction industry.”

“We are excited to partner with the Opifex team and support its growth,” Gina Luna, managing partner of GP Capital Partners, said. “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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