Alantra provides advisory services to TOPS Field Services for its acquisition by Capstreet

In the bustling financial hub of New York, Alantra recently played a pivotal role as the exclusive sell-side financial advisor in a significant transaction involving Turbine Overhaul Performance Specialists (TOPS) and Capstreet, a prominent lower middle market private equity firm based in Houston. The deal involved the acquisition of TOPS, a well-established company founded in 2008 and headquartered in Huffman, Texas. Specializing in the inspection, overhaul, and maintenance of gas and steam turbines, generators, and liquefied natural gas (LNG) plant equipment, TOPS is recognized as a leading multi-OEM service provider catering to independent power producers, utilities, and industrial energy customers on a nationwide scale. Post-acquisition, founder and CEO Toby Wooster will continue to play a key role within the organization, ensuring continuity and stability.

Throughout the intricate sale process, Alantra provided unwavering support and guidance to TOPS and its management team, culminating in a successful closure of the transaction. Highlighting the significance of this deal, Jon Tetirick, Director at Alantra, emphasized the firm’s expertise and strong connections within the industry, particularly in the power generation and rotating equipment sector. Eric Golod, Associate at Alantra, commended the Wooster family for establishing a reputable business known for its unwavering commitment to excellence in servicing gas turbines, steam turbines, and generators. As market demands for turbine maintenance continue to surge due to aging infrastructure and increasing installations, Alantra remains optimistic about TOPS’s future expansion under the strategic leadership of Capstreet.

Wade Aust, Managing Partner at Alantra, reflected on the firm’s extensive experience in the power generation and rotating equipment domain, spanning across regions and continents. With a keen eye on the evolving landscape of power demand and the unprecedented deal activity in the industry, Alantra remains at the forefront, leveraging its insights and relationships to facilitate impactful transactions. This recent collaboration with Capstreet solidifies Alantra’s position as a trusted advisor in the power sector, showcasing its proficiency in navigating complex transactions and delivering value to clients.

Through its continuous engagement and advisory services, Alantra has established a strong reputation for facilitating successful transactions and creating synergistic partnerships in the industrial sector. This strategic alliance between TOPS and Capstreet not only represents a significant milestone for both entities but also reflects Alantra’s commitment to driving growth and innovation within the power generation and rotating equipment space. As market dynamics evolve and demand for specialized services surges, the strategic vision and operational excellence demonstrated in this transaction underscore the firm’s dedication to delivering positive outcomes for its clients.