Caymus Equity Partners LLC ("Caymus Equity") proudly announces the successful sale of TriplePoint MEP ("TriplePoint" or the "Company") on May 31, 2024, to Stellex Capital Management ("Stellex"), a New York-based private equity firm that invests in middle market companies across North America and Europe.

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. The Company grew to become a top ten mechanical contractor in the U.S. under Caymus Equity’s ownership.

Caymus Equity's journey with TriplePoint began in March 2018 with an investment in Temp-Con, Inc. ("Temp-Con"). At the time of the initial investment, Temp-Con was a ~$25 million revenue business with a single location in Olathe, KS. Recognizing the attractiveness of the commercial HVACR sector early in its lifecycle of private investment, Caymus Equity saw Temp-Con as an opportunity to expand within and adjacent to existing markets, both organically and through strategic acquisitions, while institutionalizing and professionalizing the organization.

Through the leadership of CEO, Gordie Beittenmiller, and the execution of Caymus Equity’s strategic plan, Temp-Con evolved from a single-state operation into one of the largest mechanical contractors in the U.S., completing six strategic acquisitions between 2019 and 2023 under the holding company brand, TriplePoint.

Caymus Equity’s transformation of TriplePoint resulted in remarkable growth, with revenue and Adjusted EBITDA increasing significantly during the investment period, inclusive of organic and inorganic growth. On average, EBITDA increased organically by close to 50% across the acquisitions made by the Company, through implementation of best practices across the TriplePoint portfolio of companies.

"We’ve had a lot of help from Caymus since our partnership began back in 2018," commented Gordie Beittenmiller, CEO of TriplePoint. "We started at Temp-Con with approximately $25 million in annual revenue, and today we’re one of the largest MEPs in the United States. Whether it was developing a strategic roadmap to value creation, creating advanced KPI tools to monitor ongoing operations across the organization, assisting with executing our M&A strategy, or making key personnel hires, Caymus was there every step of the way and provided us with the resources and support needed to get to where we are today."