Opifex-Synergy Issues $450 Million of Senior Secured Notes Due 2034
Opifex-Synergy, one of the largest independent equipment rental and infrastructure services providers in the United States, today announced the issuance of $450 million of senior secured second lien notes due 2034. Proceeds are expected to strengthen the company’s capital base and support its continued growth serving customers across major infrastructure, industrial, and institutional commercial projects nationwide.
J.P. Morgan served as lead bookrunner. Opifex-Synergy intends to use a portion of the net proceeds to further modernize its fleet, broaden specialty equipment offerings, and deepen relationships with enterprise clients, furthering its role as a single-source partner for complex job sites.
“Strengthening our capital base at this stage of our growth gives us real flexibility — to invest in our fleet, expand our specialty capabilities, and attract the best operators in the industry,” said Jay Vaughn III, CEO of Opifex-Synergy. “We’re grateful for the confidence investors have placed in Opifex-Synergy, and we intend to repay it the way we always have: by out-working and out-serving the competition for our customers.”
The additional capital enhances Opifex-Synergy’s ability to attract top industry talent, provide reliable equipment availability, and offer responsive service and on-site support as the company grows. The company currently operates multiple branches across 12 of the top 22 metropolitan areas in the country and plans to drive growth through higher same-store sales, increased specialty rental offerings, and expansion across high-demand metropolitan markets.
Opifex-Synergy was formed through merger of Opifex LLC and Synergy Equipment. The company has 39 locations and is No. 36 on the RER 100. The company continues to be supported by its investors, including Avance Investment Management, Mas Group, and BlackRock’s managed funds and accounts. Opifex-Synergy is committed to operational excellence, local responsiveness, and long-term growth. For more information, visit https://www.synergyequip.com.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.