Private Equity Firm Business Services

LP First Capital

Austin, Texas, United States

LP First Capital is a private equity firm focused on making investments in profitable service businesses. The firm partners with founder-led, family-owned businesses and supports growth through a mix of organic initiatives and M&A, building platform businesses via “Buy-and-Build” and “Buy-and-Grow” strategies.

Focus Areas
Private equity investing, Buy-and-Build, Buy-and-Grow

Tracked deals

11

11 tracked deals across 2020-2026.

Recent pace

1

1 tracked deal announced in the last 12 months.

Deal mix

Addon

7 addon · 3 buyout · 1 recapitalization

LP First Capital Acquisition Volume by Year

Last 6 years

Acquisition volume by year Annual acquisition counts for the last 6 years for LP First Capital. 1 2020 1 2021 2 2022 3 2023 3 2024 ~1 est. 1 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

  • United Land Services Acquires Four Landscaping-Related Businesses
    January 13, 2026
    Buyer
    United Land Services, Centre Partners, LP First Capital
    Target
    Wrightsville Beach Landscaping, H&O Grounds, Custom Tree Surgeons, Undisclosed rust removal provider (South/Central Florida)
    Seller
    Founder-led sellers (unnamed)
    Industry
    Environmental Services
    Location
    United States
    Type
    Addon

    United Land Services, a Jacksonville-based landscaping platform backed by Centre Partners and LP First Capital, completed four add-on acquisitions that closed in 2025. The targets—Wrightsville Beach Landscaping (Wilmington, NC), H&O Grounds (Baton Rouge/New Orleans, LA), Custom Tree Surgeons (Jacksonville, FL) and an undisclosed rust-removal provider in South/Central Florida—expand United's geographic footprint and service capabilities; terms were not disclosed.

  • LP First Capital Acquires REI Utility Services
    September 25, 2024
    Buyer
    LP First Capital, Graycliff Partners, Brookside Capital Partners
    Target
    REI Utility Services
    Industry
    Utilities
    Location
    Texas, United States
    Type
    Buyout

    LP First Capital has acquired REI Utility Services, a Texas-based provider of joint-use management and field engineering services for electric cooperatives. The transaction was supported by unitranche debt and an equity co-investment from Graycliff Partners and Brookside Capital Partners; REI's management team will remain in place as the firm pursues geographic and service expansion.

  • Flow Service Partners Acquires Dynamic Air Solutions
    May 31, 2024
    Buyer
    Flow Service Partners, RLJ Equity Partners, LP First Capital
    Target
    Dynamic Air Solutions
    Industry
    HVAC & Mechanical
    Location
    Kentucky, United States
    Type
    Addon

    Flow Service Partners, a PE-backed commercial HVACR and plumbing platform, has acquired Dynamic Air Solutions, a Louisville-based commercial and industrial HVAC specialist. The add-on expands Flow's service capabilities and operational density in Kentucky and southern Indiana; financial terms were not disclosed.

  • LP First Capital Acquires Northpoint Asset Management
    January 29, 2024
    Buyer
    LP First Capital, Genesis Park, Samson Capital Group
    Target
    Northpoint Asset Management
    Industry
    Real Estate
    Location
    Utah, United States
    Type
    Buyout

    LP First Capital, with financing partners Genesis Park and Samson Capital Group, has acquired Northpoint Asset Management, a top-10 national single-family rental property manager. Northpoint, founded in 2006 and headquartered in Salt Lake City, UT, manages over 8,100 homes across more than 22 states and will serve as LP First Capital's platform for growth and add-on acquisitions in the fragmented property management sector.

  • United Land Services Acquires Greenway Lawn & Landscape and Sanford Tree Service
    May 9, 2023
    Buyer
    United Land Services, Centre Partners, LP First Capital
    Target
    Greenway Lawn & Landscape, LLC, Sanford Tree Service Inc.
    Industry
    Environmental Services
    Location
    Florida, United States
    Type
    Addon

    United Land Services, a landscaping platform backed by Centre Partners and LP First Capital, acquired Greenway Lawn & Landscape, LLC and Sanford Tree Service Inc. as its sixteenth add-on to expand presence and service offerings in the Southeast. The combined Greenway business — founded in 2014 and headquartered in Jacksonville, Florida — will be integrated into United's platform to broaden commercial landscaping, maintenance, and tree-care capabilities; terms were not disclosed.

  • LP First Capital and Genesis Park Acquire Fastest Labs
    April 18, 2023
    Buyer
    LP First Capital, Genesis Park
    Target
    Fastest Labs
    Industry
    Healthcare Services
    Location
    Texas, United States
    Type
    Buyout

    Fastest Labs, a nationwide provider of drug, alcohol, and DNA testing services based in San Antonio, was acquired by LP First Capital and Genesis Park. The deal is intended to give Fastest Labs resources to accelerate growth, expand its footprint, and enhance offerings for customers and franchisees.

  • Flow Service Partners Acquires Nunning Heating, Air Conditioning and Refrigeration
    March 6, 2023
    Buyer
    Flow Service Partners, RLJ Equity Partners, LP First Capital
    Target
    Nunning Heating, Air Conditioning and Refrigeration
    Industry
    HVAC & Mechanical
    Location
    Indiana, United States
    Type
    Addon

    Flow Service Partners, a portfolio company of RLJ Equity Partners and LP First Capital, has acquired Nunning Heating, Air Conditioning and Refrigeration, a family-owned commercial HVACR services provider in Evansville, Indiana. The add-on expands Flow's footprint in Indiana and strengthens its commercial HVACR and refrigeration service capabilities; financial terms were not disclosed.

  • LP First Capital & Trive Capital Form Cascade Services and Acquire Four Florida HVAC/Electrical Contractors
    December 15, 2022
    Buyer
    Cascade Services, LP First Capital, Trive Capital
    Target
    Mid-Florida Heating and Air, Aztil Air Conditioning, Extreme Air & Electric, Air Boca
    Industry
    HVAC & Mechanical
    Location
    Florida, United States
    Type
    Addon

    LP First Capital and Trive Capital partnered with an experienced management team to form Cascade Services, a residential tri-trade platform focused on HVAC, plumbing and electrical contractors. Cascade has completed four Florida acquisitions — Mid-Florida Heating and Air, Aztil Air Conditioning, Extreme Air & Electric, and Air Boca — as part of a platform-build strategy to pursue add-on opportunities across the Southern United States.

  • Flow Service Partners (RLJ & LP First Capital) Acquires R Brooks Mechanical Heating and Air Conditioning
    July 27, 2022
    Buyer
    Flow Service Partners, RLJ Equity Partners, LP First Capital
    Target
    R Brooks Mechanical Heating and Air Conditioning
    Industry
    HVAC & Mechanical
    Location
    Maryland, United States
    Type
    Addon

    Flow Service Partners, a platform backed by RLJ Equity Partners and LP First Capital, has acquired R Brooks Mechanical Heating and Air Conditioning. The add-on expands Flow's HVACR and plumbing capabilities and extends its geographic footprint into Maryland, Pennsylvania and Delaware; financial terms were not disclosed.

  • RLJ Equity Partners and LP First Capital Recapitalize Three Businesses to Form Flow Service Partners
    July 7, 2021
    Buyer
    RLJ Equity Partners, LP First Capital, Brookside Capital Partners
    Target
    Flow Service Partners
    Seller
    Selling shareholders of the three recapitalized companies
    Industry
    HVAC & Mechanical
    Location
    Tennessee, United States
    Type
    Recapitalization

    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.

  • LP First Capital and Centre Partners Acquire O'Hara Management to Build United Land Services Platform
    November 2, 2020
    Buyer
    LP First Capital, Centre Partners, United Land Services Holdings, LLC
    Target
    O'Hara Management, LLC, United Landscapes, Blandford Turf, Tree World, River Region Sports Fields
    Industry
    Environmental Services
    Location
    Florida, United States
    Type
    Addon

    LP First Capital and Centre Partners (through their new platform United Land Services) acquired O'Hara Management, LLC, a Orlando-based landscaping services provider; the transaction closed on October 9, 2020 and terms were not disclosed. O'Hara — which provides hardscape, irrigation, landscape installation and maintenance services and employed 73 full-time and 3 part-time staff — is one of five initial acquisitions forming the United Land Services platform as part of a Southeast roll-up.

Related Acquisition Pages

HVAC & Mechanical Buyers & Acquisitions 5 tracked deals by LP First Capital. Environmental Services Buyers & Acquisitions 3 tracked deals by LP First Capital. Healthcare Services Buyers & Acquisitions 1 tracked deal by LP First Capital. Real Estate Buyers & Acquisitions 1 tracked deal by LP First Capital. Acquisitions in Florida 3 tracked deals by LP First Capital. Acquisitions in Texas 2 tracked deals by LP First Capital. Acquisitions in Indiana 1 tracked deal by LP First Capital. Acquisitions in Kentucky 1 tracked deal by LP First Capital.

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