M&A Deal Summary

Trivest Partners and First Capital Acquire OpenRoad

On September 6, 2022, private equity firms Trivest Partners and First Capital acquired automotive company OpenRoad

Acquisition Highlights
  • This is Trivest Partners’ 3rd and First Capital’s 1st transaction in the Automotive sector.
  • This is Trivest Partners’ 68th and First Capital’s 6th transaction in the United States.
  • This is Trivest Partners’ 3rd and First Capital’s 2nd transaction in Texas.

M&A Deal Summary

Date 2022-09-06
Target OpenRoad
Sector Automotive
Buyer(s) Trivest Partners
First Capital
Deal Type Consolidation

Target

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.

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Buyer(S) 2

Buyer

Trivest Partners

Coral Gables, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 4.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION
Trivest's corporate headquarters in Coral Gables, Florida.
Trivest's corporate headquarters in Coral Gables, Florida.

Trivest is a private equity firm that invests in North American middle-market corporate acquisitions, recapitalizations, and growth capital financings. For platform investments, sectors of interest include niche manufacturing, value-added distribution, business services, and consumer products/services. The Firm seeks businesses with at least $4 million of EBITDA and valued between $20 and $250 million. Trivest prefers control-based situations but will also consider minority or co-investment opportunities. For add-on opportunities, Trivest will consider companies globally with valuations starting at $1 million. Trivest Partners was formed in 1981 and is based in Coral Gables, Florida.


DEAL STATS #
Overall 76 of 85
Sector (Automotive) 3 of 3
Type (Consolidation) 4 of 6
State (Texas) 3 of 5
Country (United States) 68 of 75
Year (2022) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-31 Thermal Concepts

Davie, Florida, United States

Thermal Concepts is a provider of maintenance, repair and installation services for commercial HVAC and building control systems. Thermal Concepts was founded in 1983 and is based in Davie, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-01 LMC Landscape Partners

Dallas, Texas, United States

LMC Landscape Partners provides founder and family-owned commercial landscaping companies with the capital and support services needed to accelerate their growth. LMC's approach retains and continues to grow our acquisitions’ hard-earned reputations, cultures and legacies while allowing them to operate independently.

Buy -
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 6 of 9
Sector (Automotive) 1 of 1
Type (Consolidation) 6 of 7
State (Texas) 2 of 3
Country (United States) 6 of 9
Year (2022) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-22 Ripple Learning

Houston, Texas, United States

Ripple Learning is an emerging provider of vocational education. Ripple aims to address the expanding blue collar workforce gap, starting with HVACR technicians, through its partnerships with well-established hands-on technical trade schools across the US. Ripples mission is to disrupt the current state of education and graduate students will little to no debt, while assisting its students with job placement and career readiness.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-15 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.

Buy -