HOUSTON, June 27,
2024 /PRNewswire/ -- Stellus Capital Management,
LLC ("Stellus") announced today that its affiliates provided senior
debt financing and equity co-investment to support Stellex Capital
Management's ("Stellex") acquisition of TriplePoint MEP
("TriplePoint" or the "Company").
TriplePoint is a leading non-union provider of HVACR
installations, maintenance, repair, design, and consulting services
to commercial clients across a ten-plus state footprint in the
Midwest and Southeast regions. TriplePoint is a mechanical,
electrical, and plumbing platform consisting of five distinct
regional brands with decades of operating history in their
respective markets. Through consistent, high quality job
performance, TriplePoint now ranks among the top 10 largest
mechanical firms in the U.S.
"Stellex has a strong history of partnering with field services
businesses in an effort to support them in the next phase of
growth. We look forward to supporting TriplePoint's organic and
prospective M&A focused expansion plan, as we seek to expand
the Company's maintenance and repair service capabilities," said
Michael Cochran, Principal at
Stellex, adding, "We appreciate Stellus' ability to work quickly
and efficiently in support of a successful and timely transaction
process."
Doug Bollermann, Managing
Director at Stellus, added, "We are excited to partner with Stellex
on another transaction, along with TriplePoint management. The
Company's full suite of service capabilities, reputation for
high-quality job performance, and Stellex's industry expertise
position the Company well for continued growth."
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SOURCE Stellus Capital Management, LLC