Stellus Capital Management, LLC (“Stellus”), a leader in middle market direct lending, announced today that its affiliates provided senior debt financing and an equity co-investment to support MML Capital Partners’ (“MML”) acquisition of OnPoint Industrial Services, LLC (“OnPoint” or the “Company”).
Headquartered near Houston, Texas, OnPoint specializes in industrial safety and maintenance support across the United States. The Company helps its customers manage complex maintenance projects more safely and efficiently by providing safety and logistics, project planning and coordination, materials management, transportation, and confined space technology products and services.
Sean Quinn, Managing Director at MML, said, “We enjoyed working with Stellus and valued their sector experience and knowledge of the Company as an existing lender and investor. Stellus was thoughtful in providing a flexible financing structure that allows for OnPoint’s continued growth and execution of our investment thesis. We look forward to building a strong relationship with Stellus going forward.”
Gavin Roseman, Managing Director at Stellus, added, “Our relationship with the OnPoint management team began in 2021 in connection with their merger with CertifiedSafety, Inc. We look forward to continuing that relationship and appreciate the opportunity to partner with MML to support the Company’s next phase of growth. We believe OnPoint’s leading market position, unique value proposition, and favorable industry tailwinds position the Company for continued long-term success.”
About Stellus Capital Management
Stellus was founded in 2012 and formed in conjunction with the spin-out of the Direct Capital Unit of the D. E. Shaw group. Stellus’ senior team helped create the Direct Capital Unit in 2004 and has been investing together in the middle market for 18 years. Since 2004, the Stellus team has deployed over $8 billion into more than 350 middle market companies, developing a broad and deep expertise in this segment of the private investing market. Stellus currently has approximately $2.6 billion in assets under management, with offices in Houston, TX, the Washington, D.C. area, and Charlotte, NC. Learn more at https://www.stelluscapital.com.