M&A Deal Summary

Quad-C Management Acquires Flow Service Partners

On November 21, 2024, private equity firm Quad-C Management acquired consumer services company Flow Service Partners from RLJ Equity Partners, Brookside Capital Partners and First Capital

Acquisition Highlights
  • This is Quad-C Management’s 2nd transaction in the Consumer Services sector.
  • This is Quad-C Management’s 59th transaction in the United States.
  • This is Quad-C Management’s 2nd transaction in Tennessee.

M&A Deal Summary

Date 2024-11-21
Target Flow Service Partners
Sector Consumer Services
Buyer(s) Quad-C Management
Sellers(s) RLJ Equity Partners
Brookside Capital Partners
First Capital
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)

Target

Flow Service Partners

Mount Juliet, Tennessee, United States
Flow Service Partners is a provider of essential services including heating, ventilation, air conditioning, and refrigeration ("HVACR") and plumbing services in Florida and Indiana. Flow Service Partners was founded in 2021 and is based in Mount Juliet, Tennessee.

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Buyer(S) 1

Buyer

Quad-C Management

Charlottesville, Virginia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 3.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Quad-C Management is a generalist private equity firm that makes control investments in middle-market companies operating in a wide range of industries. Target sector's include building products, business-to-business services, consumer products, distribution/logistics, equipment rental, financial services, healthcare, light manufacturing, packaging, restaurants, security, and specialty chemicals. Quad-C's target investment size is $50 to $150 million in businesses valued between $100 and $500 million and with EBITDA greater than $10 million. Prospective transaction types include recapitalizations/family successions, management buyouts, and industry consolidations. Quad-C Management was founded in 1989 and is headquartered in Charlottesville, Virginia.


DEAL STATS #
Overall 63 of 63
Sector (Consumer Services) 2 of 2
Type (Secondary Buyout) 17 of 17
State (Tennessee) 2 of 2
Country (United States) 59 of 59
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-18 Galleher

Santa Fe Springs, California, United States

Galleher is a floor covering distributor, serving builders, contractors and retailers. Galleher distributes a broad offering of hardwood, resilient, vinyl and laminate flooring as well as carpet and installation accessories to more than 5,000 customers while also providing unique custom hardwood manufacturing capabilities. Galleher was founded in 1937 and is based in Santa Fe Springs, California.

Sell -

Seller(S) 3

SELLER

RLJ Equity Partners

Bethesda, Maryland, United States

Category Private Equity Firm
Founded 2006
PE ASSETS 850M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

RLJ Equity Partners LLC is a private equity firm focused on long term investments in North American middle-market companies. The Firm looks to invest $15 to $40 million per transaction in companies valued between $50 and $250 million. RLJ targets companies operating in the fields of aerospace/defense, auto/transportation, business services, consumer retail, media, and telecom. Types of transactions include corporate divestitures, buyouts, recapitalizations, growth equity, and add-on acquisitions. RLJ Equity Partners LLC was formed in 2006 and is based in Bethesda, Maryland.


DEAL STATS #
Overall 11 of 11
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 4 of 4
State (Tennessee) 1 of 1
Country (United States) 9 of 9
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-04 Enhanced Resource Centers

Jacksonville, Florida, United States

Enhanced Resource Centers is a provider of customer experience management solutions with a focus on call center-based business process outsourcing solutions and accounts receivable management services to blue-chip clients in a variety of industries, including financial services, telecommunications, utilities, and student loan markets. Enhanced Resource Centers was founded in 1999 and is headquartered in Jacksonville, Florida.

Sell -
SELLER

Brookside Capital Partners

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2001
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Brookside Capital Partners is an investment management firm focused on stable lower-middle market companies in the US. The Firm typically commits $5 to $30 million per transaction to support buyouts, leveraged recapitalizations, strategic acquisitions and growth. Potential businesses generally have revenue greater than $15 million, and EBITDA of at least $4 million. Industries of interest include business services, consumer, distribution, healthcare, manufacturing, and transportation and logistics. Brookside Capital Partners was established in 2001 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 24 of 24
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 13 of 13
State (Tennessee) 1 of 1
Country (United States) 24 of 24
Year (2024) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-04 Principal Sloan

San Angelo, Texas, United States

Principal Sloan is an electronics component provider to the electrical sign industry in North America. The company manufactures and sells UL-recognized LED sign modules and cabinet products for new and retrofit sign applications, as well as neon and LED power supplies and other sign accessories. Principal Sloan was founded in 2010 and is based in San Angelo, Texas.

Sell -
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 1 of 1
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Tennessee) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-29 Northpoint

Salt Lake CIty, Utah, United States

Northpoint is a national single-family rental property management company that manages 8,100+ homes for retail and institutional investors across 40+ regions and 22 states. The company provides full-service property management, in-house maintenance, real estate brokerage, and institutional back-office services to its clients. Northpoint was formed in 2006 and is based in Salt Lake CIty, Utah.

Buy -