Capstreet, a Houston-based lower middle market private equity firm, announced that it has acquired TOPS Field Services, LLC (“TOPS” or “the Company”), which specializes in the inspection, overhaul, and maintenance of gas and steam turbines, liquefied natural gas (LNG) equipment, and generators. The management team, including founder and CEO Toby Wooster, will remain with the Company. Terms of the transaction were not disclosed.
TOPS, an acronym for Turbine Overhaul Performance Specialists, is an independent, multi-OEM service provider delivering full-spectrum turbine and generator maintenance capabilities for major independent power producers (IPPs), utilities, LNG and other industrial companies. With a focus on rapid response and safety, TOPS draws on its longstanding union relationships to perform mission-critical work on power equipment in environments where downtime can be costly.
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“As a founder-owned, Houston-area industrial service provider, TOPS is a strong fit for Capstreet,” said Capstreet Partner Paul De Lisi. “The Company is a well-established provider in the power generation and LNG maintenance sector and is well-positioned to benefit from rising power demand driven by AI and electrification trends. We look forward to working with Toby Wooster and the management team to continue to build a comprehensive MRO services provider serving a diverse set of power-intensive end markets.”
“Capstreet’s support allows us to expand our service offerings for existing customers while addressing rising turbine maintenance demand driven by aging fleets and a growing installed base,” said Mr. Wooster. “Since our inception, TOPS has achieved significant growth, and this partnership is an exciting next step as we look to drive future growth through geographic expansion and enhancing our capabilities.”
TOPS Field Services is an independent, multi-OEM service provider delivering full-spectrum turbine and generator capabilities to major independent power producers (IPPs), utilities, LNG and other industrial companies. Founded in 2008 and based in Huffman, TX, TOPS services customers across North America. Its focus on rapid response, safety, and engineering excellence keeps critical power assets running reliably.
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