top of page
Search

TRP Finishes Active 2024

TRP Capital Partners


2024 was a busy year for TRP Capital Partners, including investments in three new platform companies, one partial exit, two refinancings/distributions, three add-on acquisitions, several greenfield location expansions, and other notable achievements highlighted below.


  • In February, TRP completed its continuation fund in support of GenOx Transportation ("GenOx"). Headquartered in Deer Park, Texas, GenOx operates a fleet of specialty trailers that transport industrial gases in compressed or liquified form. TRP made its initial investment in GenOx in 2017, and through the continuation fund and investment from other TRP funds, extended its investment period and partnership with the company.


  • In June, TRP invested in a second platform company, Star Logistics & Hospitality Services ("Star"). Headquartered in Paterson, New Jersey, Star operates four facilities and a fleet of equipment to service the hotel industry as one of the leading providers of commercial laundry and distribution services in Metro New York, New Jersey, and Philadelphia. TRP has partnered with Star's founder to help accelerate the company's growth.


  • In November, TRP invested in a third platform company, Driving Force Collision ("Driving Force"). Headquartered in Long Island City, New York, Driving Force operates as a regional collision repair provider with a current footprint of three auto body repair shops and numerous locations in the pipeline for 2025. TRP has partnered with several industry veterans to execute the Driving Force growth strategy.


  • In May, Diversified Technologies International ("DTI") closed on its acquisition of another high-quality manufacturer of automotive stamping and molding tools in Detroit, Michigan. The acquisition expanded DTI's manufacturing capacity with a second facility housing numerous stamping presses, cranes, and machine centers.


  • In June, Priority Waste acquired residential contracts from GFL Environmental, adding many customers and making it one of the largest providers of residential services in Michigan. In November, TRP completed a partial exit of its investment, and remains a partner as Priority continues to expand its presence throughout Michigan, Indiana, and Ohio.


  • In October, Jax Kar Wash ("Jax") completed its acquisition of Clean View Auto Wash. Along with five new greenfield sites opened, Jax has expanded its footprint to 46 locations across the Midwest with a pipeline to surpass 50 locations in 2025. The company has already opened one additional site in 2025 and is the largest car wash operator in Michigan and second largest in Wisconsin.


  • In October, Lifted Trucks opened a new store in San Antonio, Texas, following the grand opening celebration of its Hurst, Texas hub location in August. San Antonio marks the company's fourth store in Texas and tenth overall. Additional locations are slated to open throughout 2025.


  • TRP was honored to be recognized in October 2024 for its founder-led partnerships as one of 269 companies named to Inc.'s 2024 Founder-Friendly Investors list. The prestigious list celebrates the investors that believe in backing founder-led businesses and helping them thrive. A nominal fee was paid to submit TRP’s application for consideration.


  • TRP was recognized in April 2024 as a 2024 Dealmaker of the Year Honoree by the Smart Business Dealmakers Conference in Detroit. The award recognizes exceptional individuals and companies who are shaping the landscape of business and innovation locally.


In addition to the highlights above, our team is excited to have added two new members, Dylan Kiger (Associate) and Justin Brown (Analyst).



We look forward to continuing our business relationship with you in 2025. For additional information on TRP, please feel free to reach out to any of our team members.







92 views0 comments

Recent Posts

See All

Comments


TRP Capital Partners:

380 N Old Woodward Ave, Suite 205
Birmingham, Michigan 48009

 

  • LinkedIn - Black Circle

© 2024 TRP Capital Partners.  All Rights Reserved.  

bottom of page