STELLUS CAPITAL MANAGEMENT, LLC PROVIDES UNITRANCHE FINANCING IN SUPPORT OF STELLEX CAPITAL MANAGEMENT'S ACQUISITION OF TRIPLEPOINT MEP

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Jun 27, 2024, 07:45 ET

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."

SOURCE Stellus Capital Management, LLC