Colorado Springs, CO (August 2024) – Catalyst Strategic Advisors is pleased to announce its successful advisory role in the transaction to combine Opifex Enterprises (“Opifex”) and Synergy Equipment (“Synergy”). Synergy is a portfolio company of Avance Investment Management (“Avance”), a private equity firm that invests in founder-owned, middle-market businesses.
Opifex was founded in 2018 in Austin, Texas, to provide equipment rentals to high-growth infrastructure and industrial construction markets across Texas. Synergy was established in 2012 in Tampa, Florida, to focus on all segments of the expanding Florida market. Avance invested in Synergy in 2022 to accelerate growth across the southeastern U.S. This transaction marks the largest acquisition completed by Synergy and Avance.
The combined businesses will form the largest independent equipment rental company in the rapidly expanding markets of Florida and Texas. The combined entity would rank as the 9th largest general equipment rental provider in the United States, according to the 2024 RER 100(1), an annual publication by the Rental Equipment Register that lists the largest equipment rental companies.
The combined company will retain the Synergy and Opifex brand names within their respective regions, ensuring continuity for customers. A five-person management committee that brings together leadership from both businesses will guide the strategic vision of the combined company going forward. Synergy Chief Executive Officer JC Mas will lead the management committee alongside Opifex Chief Executive Officer Jay Vaughn III, joined by other key leaders from both teams, including Opifex President Stefan Gresham.
Catalyst Strategic Advisors served as the exclusive transaction advisor to Opifex. This marks the tenth deal closed by Catalyst in 2024.
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(1) Ranking based on Rental Equipment Register’s 2024 RER 100 list. Based on rental revenue volume for US-based companies that specialize in general equipment rental, including aerial and earthmoving equipment. Excludes companies with a primary focus on renting cranes, power generation, temperature control, customized trucks, and pumps.
