Capstreet, a Houston-based lower middle market private equity firm, announced today that it has sold OnPoint Industrial Services (“OnPoint” or the “Company”), a specialized provider of safety, logistics and planning services designed to support complex maintenance projects in the refining and petrochemical industries, to MML Capital. Terms of the transaction were not disclosed.
Through acquisitions and organic growth, OnPoint has assembled a comprehensive suite of support services that allow its customers to manage complex maintenance projects more efficiently and safely. Based in Deer Park, Texas, OnPoint’s services include project planning and coordination, transportation and logistics, materials management, and safety services.
Capstreet’s relationship with OnPoint began in 2015 when it acquired Creative Resource Group (CRG). Subsequently CRG acquired Inotek Safety Consultants and WTMC, eventually rebranding them together as OnPoint. Under Capstreet’s ownership, the Company would go on to make three additional tuck-in acquisitions and merge with Certified Safety, expanding its services and footprint under the leadership of a newly created management team.
“When Capstreet made its initial investment, we identified a need for a large-scale, single-source service provider of support services for industrial maintenance projects. We recruited an incredible leadership team to the business and together we successfully sourced and integrated several acquisitions and drove organic growth to create one of the recognized leaders in our industry,” said Paul De Lisi, Partner at Capstreet. “This has been a tremendous journey, and we believe OnPoint is positioned for ongoing success with its new owner.”
“OnPoint has transformed over the last few years, adding the services and skills demanded by an evolving industry,” said Liz Clark, CEO of OnPoint. “It has been a pleasure working with the Capstreet team to drive this change and expand the Company, and we are excited about what lies ahead.”
“Thanks to OnPoint’s management team and the hard work of its employees, we were able to create value and grow OnPoint from a small industrial services business to what the Company is today,” said Walker Kahle, Senior Vice President of Portfolio Operations at Capstreet. “Congratulations to all involved.”
Willkie Farr & Gallagher served as legal counsel and BlackArch Partners was the financial advisor for Capstreet.
About OnPoint Industrial Services
OnPoint Industrial Services’ offerings are designed to facilitate the safe and efficient flow of people, materials, and equipment during turnarounds and capital projects. By applying people, process, and technology, OnPoint satisfies the logistics requirement of these complex events. For more information, visit onpoint-us.com.
Founded in 1990, Capstreet invests in lower middle market software, tech-enabled services, and industrial business services companies. With over 45 platform investments and over 200 add-on acquisitions since inception, Capstreet’s investment strategy is focused on utilizing its Capvalue Framework™ to help accelerate growth and profitability, and help create long term sustainable businesses. The majority of Capstreet’s investments have been with founder- or entrepreneur-owned businesses. For more information, visit the Capstreet website, www.capstreet.com.