TriplePoint MEP Announces Recapitalization to Further Company’s Service Offering and Geographic Reach

HOUSTON--(BUSINESS WIRE)--TriplePoint MEP (“TriplePoint”) is pleased to announce a successful recapitalization with Stellex Capital Management (“Stellex”) to execute an array of strategic and operational objectives with the aim of increasing the company’s service offering and geographic reach. The financial details of the transaction have not been disclosed.

Gordie Beittenmiller, TriplePoint’s CEO, remarked, “We are excited to team up with Stellex. We believe their experience and expertise in our sector together with their capital resources will help propel TriplePoint into the highest reaches of our industry. We expect this to significantly benefit our customers, employees and investors.” Beittenmiller added, “We are energized to continue our journey of building a clear leader in the mechanical and specialty trades arena.”

Irina Krasik, Managing Director at Stellex added, “We are very excited to partner with the TriplePoint team and embark on this next chapter of scale. Our team was highly impressed with the TriplePoint family of companies, who we believe have consistently demonstrated their adherence to core values around safety, employees, execution, and customer service. The company has a strong reputation, and we are excited to leverage our sector expertise and transformational capital in an effort to increase TriplePoint’s capabilities and geographic reach to better service its customers and provide a broader set of opportunities for its employees.”

About TriplePoint MEP

TriplePoint is a leading provider of mechanical services in the United States, with principal operations in Texas, Ohio, Kansas, and North Carolina. TriplePoint offers a host of services across mechanical, electrical, and plumbing trades for the industrial and institutional markets with an emphasis on agility, innovation, and technical capability. The company has an impressive track record of performance while maintaining adherence to core values around employee safety, customer service, and community partnership.

TriplePoint ranks as one of the 10 largest mechanical firms in the U.S. and is eager to continue its strong growth trajectory through a combination of organic growth and strategic acquisitions.

About Stellex Capital Management LLC

With offices in New York, Pittsburgh, Detroit, and London, Stellex Capital is a private equity firm with over $2.8 billion in AUM. Stellex seeks to identify and deploy capital in opportunities that stand to benefit from its operationally focused and hands-on approach to investing. Portfolio companies are supported by Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insights, and access to capital. Sectors of particular focus include aerospace, defense & government services, transportation & logistics, manufacturing, real economy & business services, food processing and tech-enabled services. Additional information may be found at www.stellexcapital.com.