Opifex-Synergy to ‘think bigger’ after $1bn financing

US rental company Opifex-Synergy has raised US$1.05 billion in new financing, comprising $550 million from its first public bond issue and a $500 million asset-backed loan, both led by J.P. Morgan.

The Tampa, Florida-based company said the funds will be used to “build upon its role as a single-source partner for complex job sites-including”, to modernise its fleet, broaden its specialty equipment offering, and expand relationships with large customers.

Jay Vaughn III, CEO of Opifex-Synergy, said; “We’ve built this company by staying close to our customers and never cutting corners, and this milestone underscores the market’s confidence in what we’re doing.

“Now we have the freedom to think bigger, move faster, and stay focused on what matters most: our fleet, our people, and our customers.”

Opiflex-Synergy operates a pump rental divisioin. (Image: Opiflex-Synergy)

The company, created by the merger in 2024 of Florida-based Synergy and Texas rental company Opiflex, said its new capital structure would make it easier to attract industry talent, increase equipment availability, and offer responsive service and on-site support.

The business has 34 locations in Alabama, Florida, Georgia, Tennessee and Texas, and operates in 12 of the largest 22 metropolitan areas in the US. It said it aimed to grow through higher same-store sales, increased specialty rentals and expansion in high-demand metropolitan markets.

Alex Greenberg, co-head of Heavy Equipment Services, J.P. Morgan Investment Banking, said; “We are proud to play a role in Opifex-Synergy’s continued growth journey as it seeks to deliver streamlined solutions for clients across a fragmented sector.

“We saw robust demand from investors, driving an orderbook that was multiple times oversubscribed, and look forward to seeing how the team will execute as new infrastructure and industrial projects come online across the country.”

Opifex-Synergy investors include Avance Investment Management, the Mas Group and BlackRock.