RLJ Equity Partners and LP First Capital Recapitalize Three Businesses to Form Flow Service Partners
July 7, 2021
RLJ Equity Partners and LP First Capital recapitalized three HVACR and plumbing businesses to create Flow Service Partners, a commercial HVACR and plumbing platform headquartered in Nashville, Tennessee. Brookside Capital Partners provided unitranche debt and an equity co-investment to facilitate the transaction; RLJ will hold controlling equity and pursue add-on acquisitions to scale the platform.
- Buyers
- RLJ Equity Partners, LP First Capital, Brookside Capital Partners
- Targets
- Flow Service Partners
- Sellers
- Selling shareholders of the three recapitalized companies
- Platforms
- Flow Service Partners
- Industry
- HVAC & Mechanical
- Location
- Tennessee, United States
- Transaction Type
- Recapitalization
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Quad‑C Management Acquires Flow Service Partners from RLJ Equity Partners and LP First Capital
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Quad‑C Management has acquired Flow Service Partners from sellers RLJ Equity Partners and LP First Capital; financial terms were not disclosed. Flow is a commercial HVACR and plumbing services platform headquartered in Nashville, Tennessee, operating across several U.S. states with over 400 employees and built through multiple acquisitions since 2021.
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