M&A Deal Summary

First Capital and Trive Capital Acquire Cascade Services

On December 15, 2022, private equity firms First Capital and Trive Capital acquired consumer services company Cascade Services

Acquisition Highlights
  • This is First Capital’s 1st and Trive Capital’s 3rd transaction in the Consumer Services sector.
  • This is First Capital’s 7th and Trive Capital’s 43rd transaction in the United States.
  • This is First Capital’s 2nd and Trive Capital’s 4th transaction in Florida.

M&A Deal Summary

Date 2022-12-15
Target Cascade Services
Sector Consumer Services
Buyer(s) First Capital
Trive Capital
Deal Type Consolidation

Target

Cascade Services

Tampa, Florida, United States
Cascade Services is a premier residential tri-trade services platform. Cascade offers HVAC, plumbing, and electrical contractors with best-in-class residential service technicians across the Southern United States. Cascade Services was founded in 2022 and is based in Tampa, Florida.

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Buyer(S) 2

DESCRIPTION

LP First Capital is a private investment group focused on buy and build situations. The Firm will consider minority or majority positions in profitable platform companies with $1 to $20 million of EBITDA. Target sectors include business services, consumer services, healthcare services, education, and niche manufacturing. LP First Capital was formed in 2018 and is headquartered in Austin, Texas.


DEAL STATS #
Overall 7 of 9
Sector (Consumer Services) 1 of 1
Type (Consolidation) 7 of 7
State (Florida) 2 of 2
Country (United States) 7 of 9
Year (2022) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-06 OpenRoad

Austin, Texas, United States

OpenRoad partners with and invests in collision repair centers across the United States. OpenRoad believes that quality repairs, excellent technician training, shop culture and a passionate employee base are the gears that create a best-in-class collision center.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-18 Fastest Labs

San Antonio, Texas, United States

Fastest Labs is a provider of drug, alcohol, and DNA testing services, offering fast and accurate results for individuals, businesses, and government agencies. Fastest Labs was founded in 2008 and is based in San Antonio, Texas.

Buy -
Buyer

Trive Capital

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2012
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Trive Capital is a hands-on, operationally-focused private equity firm that targets complex or special situations in 'out of favor' but protected market niches. The Firm will consider businesses throughout North America offering differentiated products/services with leading/defensible industry positions. Trive looks to commit $10 to $300 million per investment in businesses generating revenues of $40 million to $1.5 billion. Sectors of interest include automotive, transportation, aerospace/defense, building products, construction, infrastructure, healthcare, manufacturing, industrial, chemicals, distribution, consumer goods, energy services, business services, and communications. Trive Capital was founded in 2012 and is based in Dallas, Texas.


DEAL STATS #
Overall 45 of 54
Sector (Consumer Services) 3 of 3
Type (Consolidation) 3 of 4
State (Florida) 4 of 4
Country (United States) 43 of 51
Year (2022) 9 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-30 Forward Slope

San Diego, California, United States

Forward Slope is a technology services company providing software and surveillance solutions to the defense industry. Forward Slope is based in San Diego, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-10 HTeaO

Midland, Texas, United States

HTeaO is an iced tea franchisor with 68 locations in five states, and more than 425 franchise licenses . HTeaO serves ultra-premium tea, water, coffee, and related products to customers in-store and drive-thru. 24 handcrafted flavors of sweetened and unsweetened tea are sold at each location, created with a proprietary water filtration system and 100% natural ingredients. HTeaO was founded in 2009 and is based in Midland, Texas.

Buy -