Quad-C Announces Investment in Flow Service Partners

CHARLOTTESVILLE, Va., Nov. 21, 2024 /PRNewswire/ -- Quad-C Management, Inc. ("Quad-C"), a leading middle market private equity firm, announced its investment in Flow Service Partners ("Flow" or the "Company"), a provider of heating, ventilation, air-conditioning and refrigeration (HVACR) and plumbing services. With operations in the Midwest, Southeast, and Mid-Atlantic, Flow serves the commercial, government, industrial, multi-family, healthcare, and other end markets.

Daniel Youman, CEO of Flow, commented, "We are thrilled to partner with the Quad-C team. As we enter our next phase of growth, we are excited to leverage Quad-C's deep history scaling market leading businesses through both M&A and organic growth initiatives."

Jack Walker, Partner at Quad-C, commented, "The Flow team has built an exceptional platform focused on best-in-class customer service and local expertise in its markets. We are excited to work with the team to continue to scale the existing operations, while expanding the Company's geographic reach and adding new service offerings to better serve the needs of Flow's customers."

In addition, Steve O'Donnell will join Flow as the Company's Chairman. Steve brings over 30 years of experience in the HVAC market including prior CEO roles with Tolin Mechanical, Padgett Group and Service Logic.

Tim Billings, Senior Partner at Quad-C, added, "We are proud to welcome Flow to the Quad-C portfolio. We believe that Flow is well positioned to continue to accelerate its growth, and we look forward to working with the team."

Terms of the investment were not disclosed. Houlihan Lokey advised Flow on the Transaction.

About Quad-C Management:
Founded in 1989 and headquartered in Charlottesville, Virginia, Quad-C is a middle market private equity firm focused on investing in established business services, industrials and healthcare companies. In its three-decade history, Quad-C has invested over $4 billion of capital in 84 platform companies and over 385 add-on acquisitions. The Quad-C team is committed to partnering with entrepreneurs and management teams to accelerate growth and create long-term value. For more information, please visit www.quadcmanagement.com.

About Flow Service Partners:
Flow Service Partners is a leading HVACR and plumbing service provider in the Midwest, Southeast and Mid-Atlantic. The Company was formed in 2021 through the combination of Perfection Heating and Air and Altstadt Plumbing and has since grown through organic expansion and four acquisitions. Flow primarily serves the commercial, government, industrial, multi-family, healthcare, and other commercial and residential end markets. For more information, please visit www.flowservice.com.

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SOURCE Quad-C Management, Inc.