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Flow Service Partners, a Portfolio Company of RLJ Equity Partners and LP First Capital, Acquires R Brooks Mechanical Heating and Air Conditioning

BETHESDA, MD., July 27, 2022 /PRNewswire/ — Flow Service Partners (“Flow” or the “Company”), a portfolio company of RLJ Equity Partners (“RLJ”), a subsidiary of The RLJ Companies, and LP First Capital (“LPFC”), today announced the acquisition of R Brooks Mechanical Heating and Air Conditioning (“R Brooks”). This acquisition strengthens Flow’s technical capabilities and expands the Company’s geographic footprint to Maryland, Pennsylvaniaand Delaware. Financial terms of the transaction were not disclosed.

Founded in 2001, R Brooks is a provider of heating, ventilation and air conditioning (“HVAC”) services to commercial, federal and residential customers. R Brooks is headquartered in Rising Sun, Maryland and recently opened a second location at Kennett Square, Pennsylvania. R Brooks has a solid reputation for quality work, responsiveness and good customer service, which has earned him significant customer loyalty.

“Partnering with Flow represents a transformational growth opportunity for R Brooks,” said rich streams, president of R Brooks Mechanical Heating and Air Conditioning. “We are delighted to partner with Flow, RLJ and LPFC and believe this combination will be of great benefit to our customers, employees and the communities we serve.”

“The combination of Flow and R Brooks expands our geographic reach into the mid-Atlantic states and opens up additional organic growth opportunities for the Flow platform,” said Michael EppersonPresident and CEO of Flow Service Partners.

“R Brooks has an excellent reputation, particularly for the quality of their work and customer service, which fits perfectly with our vision for the Flow platform,” said Nigel Howard, Managing Director at RLJ Equity Partners. “We are thrilled to partner with R Brooks and grow together.”

“This partnership will expand our service capabilities and enable us to provide exceptional quality and customer service to existing Flow and R Brooks customers,” said Thomas Incemanaging director at LP First Capital.

R Brooks represents Flow’s fourth acquisition, and the company intends to continue to pursue additional acquisition opportunities to expand the scale of services in HVAC and plumbing, as well as expand its geographic footprint, especially in the mid-Atlantic and southeastern states.

RLJ provided majority equity for the transaction. Fifth Third Bank, NA and Brookside Capital Partners provided transaction debt and equity co-investment to facilitate the transaction. DLA Piper LLP acted as legal advisor and LBMC acted as financial advisor. eMerge M&A acted as selling advisor to R Brooks.

About RLJ Equity Partners (“RLJ”): Headquartered in Bethesda, MDRLJ Equity Partners is a middle-market private equity firm with approximately $440 million of capital under management aimed at generating long-term capital appreciation by investing in profitable and growing companies led by strong management teams. Founded in 2006 by Robert L. Johnson, RLJ initiates and invests in traditional buyouts and leveraged recapitalizations. RLJ Equity Partners is a portfolio company of The RLJ Companies. For more information, please visit www.rljequitypartners.com.

About RLJ Companies: Founded by Robert L. Johnson and whose head office is at Bethesda, MD, The RLJ Companies is an innovative business network that provides strategic investments to a diverse portfolio of companies in the media and entertainment, financial services, real estate, hospitality and gaming industries. Prior to founding The RLJ Companies, Johnson founded Black Entertainment Television. For more information, visit: www.rljcompanies.com.

About LP First Capital (“LPFC”): headquartered in Austin, TX, LP First Capital is a lower mid-market private equity firm focused on the healthcare, business services and education sectors. LPFC specializes in growth capital, platform deployments, buyouts and recapitalizations. LPFC’s sweet spot is to partner with founder-led or family-owned businesses and help take them to the next level by providing industry operational expertise and the right capital structure. For more information, please visit www.lpfirstcapital.com.

About Flow Service Partners (“Flow”): Headquartered in Nashville, TN, is a provider of heating, ventilation, air conditioning and refrigeration (“HVACR”) and plumbing services, including maintenance, repair, replacement/retrofit and installation services. Thanks to its partners, Flow currently operates in Delaware, Florida, Indiana, Kentucky, Marylandand Pennsylvania and has approximately 325 employees. For more information, visit www.flowservice.com.

FOR MORE INFORMATION:

RLJ ACTIONS PARTNERS
Nigel Howardgeneral manager, (240) 744-7835, [email protected]

SOURCERLJ Equity Partners, LLC