ST. LOUIS--(BUSINESS WIRE)--Thompson Street Capital Partners (“TSCP”), a private equity firm based in St. Louis, announced today it has completed the sale of LTP Home Services Group ("LTP" or "the Company"), a leading residential plumbing and HVAC services platform, to L Catterton, a global consumer-focused private equity firm. TSCP will retain a board seat and minority stake in the Company. Terms of the transaction were not disclosed.
Founded in 1996 by Len Bush as "Len the Plumber," LTP Home Services Group is a leading residential services company with a specialization in plumbing and HVAC services, operating across the Mid-Atlantic and Southeast regions under six brands.
"We're excited to partner with L Catterton to continue our accelerated growth and take LTP to the next level as a leading residential services platform," said Jeff Cooper, CEO of LTP Home Services Group. "We thank TSCP for their supportive and collaborative partnership over the past two years as we transformed the business through operational improvements and strategic growth."
"We are extremely excited for the LTP team and their future growth," said Jeff Aiello, a Managing Director at TSCP. "When we partnered with Jeff Cooper and his management team, it was clear LTP had the talent to grow organically while continuing to execute on their proven geographic greenfield expansion playbook. By completing six add-ons and driving substantial organic growth, the business has more than quadrupled during TSCP's ownership. We are looking forward to continuing our partnership with LTP as minority owners and participating in the next phase of growth with L Catterton's involvement."
About Thompson Street Capital Partners
Thompson Street Capital Partners is a St. Louis-based private equity firm focused on investing in founder-led middle market businesses in the healthcare and life science services, software and technology services, and business services and engineered products sectors. Founded in 2000, the firm has acquired more than 200 companies. TSCP partners with management teams to increase value by accelerating growth, both organically and via acquisitions. For more information about TSCP, please visit www.tscp.com
About LTP Home Services Group
Founded in 1996 by Len Bush as "Len the Plumber," LTP Home Services Group is a leading residential services company with a specialization in plumbing and HVAC services, operating across the Mid-Atlantic and Southeast regions under six brands. LTP provides professional, same day service seven days a week, with technicians working around customer schedules, never charging extra for same day, evening, or weekend appointments, and dispatched based on specialization. For more information about LTP Home Services Group, please visit www.lentheplumber.com/.
