LP First Capital & Trive Capital Form Cascade Services and Acquire Four Florida HVAC/Electrical Contractors

Halmos Capital and Trivest Partner with Thermal Concepts to Launch Commercial HVAC Platform

May 31, 2022

HVAC & Mechanical

Halmos Capital Partners and Trivest Partners have partnered with Thermal Concepts, a Davie, Florida-based provider of commercial HVAC maintenance, repair and installation services, to form a platform in the commercial HVAC services industry. Founder Larry Maurer will remain CEO as the partners support Thermal Concepts’ growth across Florida and the Southeast.

RLJ Equity Partners and LP First Capital Recapitalize Three Businesses to Form Flow Service Partners

July 7, 2021

HVAC & Mechanical

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.

Cascade Services Acquires East Coast Mechanical (ECM)

October 23, 2025

HVAC & Mechanical

Cascade Services has acquired East Coast Mechanical (ECM) — a South Florida residential HVAC, plumbing, electrical and home warranty provider — from Air Pros Solutions, LLC. The add-on expands Cascade's Florida footprint (its 10th Florida acquisition and 13th overall) and will allow ECM to operate under its brand while leveraging Cascade's resources and platform.

Silver State Acquires Four Commercial HVAC and Mechanical Service Providers

September 18, 2025

HVAC & Mechanical

Silver State HVAC, a platform backed by The Edgewater Funds, acquired four regional commercial HVAC, refrigeration and mechanical service providers — Westaire (Ventura, CA), Tri-Point Refrigeration (Austin, TX), The Whitman Co. (Anaheim, CA) and Atlantic Coast Restaurant & Mechanical Services (Miami, FL). The add-on deals expand Silver State’s geographic footprint across the southern United States and enhance its capabilities in commercial HVAC, refrigeration, kitchen equipment installation and related mechanical services.

Pueblo Mechanical & Controls (Huron Capital) Acquires Travers Mechanical Services

June 30, 2022

Industrial Services

Huron Capital-backed Pueblo Mechanical & Controls acquired Travers Mechanical Services, a Albuquerque-based HVAC and plumbing services provider with roughly 40 employees. The deal is an add-on that expands Pueblo into New Mexico (its fourth U.S. state) and is the platform's seventh add-on in the past 10 months.

Cascade Services Acquires Sun Plumbing (FL) and Smith & Keene Home Services (VA)

September 5, 2024

HVAC & Mechanical

Cascade Services, a residential tri-trade services platform based in Tampa, announced the acquisitions of Sun Plumbing (Melbourne, Florida) and Smith and Keene Home Services LLC (Chesapeake/Norfolk, Virginia). The Smith & Keene Home Services business was a carve-out of the retail/install and service/repair divisions from Smith & Keene Electric Service, Inc.; both deals are add-on acquisitions that expand Cascade's regional footprint and service capabilities.