Flow Service Partners, a Joint Venture Between RLJ Equity Partners and LP First Capital, Purchases R Brooks Mechanical Heating and Air Conditioning

July 29, 2022
Flow Service Partners, a Joint Venture Between RLJ Equity Partners and LP First Capital, Purchases R Brooks Mechanical Heating and Air Conditioning
Flow Service Partners, a portfolio company of RLJ Equity Partners, an affiliate of The RLJ Companies, and LP First Capital ("LPFC"), announced today the acquisition R Brooks Mechanical Heating and Air Conditioning ("R Brooks").

Flow Service Partners (“Flow” or the “Company”), a portfolio company of RLJ Equity Partners (“RLJ”), an affiliate of The RLJ Companies, and LP First Capital (“LPFC”), announced today the acquisition R Brooks Mechanical Heating and Air Conditioning (“R Brooks”). This acquisition strengthens Flow’s technical capabilities and expands the Company’s geographic footprint into Maryland, Pennsylvania, and 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 in Kennett Square, Pennsylvania. R Brooks has a strong reputation for quality work, responsiveness, and good customer service, which has resulted in significant repeat business with its customer base.

“Partnering with Flow represents a transformational growth opportunity for R Brooks,” said Rich Brooks, President of R Brooks Mechanical Heating and Air Conditioning. “We are thrilled to partner with Flow, RLJ and LPFC and believe that this combination will be highly beneficial to our customers, employees, and communities that we serve.”

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

“R Brooks has a great reputation, particularly for quality work and customer service, which aligns perfectly with our vision for the Flow platform,” said Nigel Howard, Managing Director at RLJ Equity Partners. “We are excited about partnering with R Brooks and growing together.”

“This partnership will grow our service capabilities and allows us to provide outstanding quality and customer service to existing Flow and R Brooks customers,” said Thomas Ince, Managing Director at LP First Capital.

R Brooks represents Flow’s fourth acquisition, and the Company intends to continue pursuing additional add-on acquisition opportunities to build servicing scale in HVACR and plumbing as well as expand its geographic footprint, particularly in the Mid-Atlantic and Southeast states.

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