Hyde Park Capital Advises Acree Plumbing, Air & Electric on its Sale to LTP Home Services Group

Tampa, Fla. – February 7, 2023Hyde Park Capital announced today that its client, Acree Plumbing, Air & Electric (“Acree”), a full service provider of residential HVAC, plumbing and electrical services located in Tampa, FL, has been acquired by LTP Home Services Group (“LTP”), a portfolio company of L Catterton, a leading middle-market private equity firm based in Greenwich, CT. The transaction marks Hyde Park Capital’s sixth major client transaction of 2022 and builds on the momentum of a continuing strong market for mergers and acquisitions in 2023.

Hyde Park Capital served as the exclusive investment banker to Acree for the transaction. The Center for Financial, Legal & Tax Planning, Inc., located in Marion, IL, served as legal counsel to Acree.

Vic Trino, Co-Owner of Acree, said, “After 40 years of building a tremendous company independently, Suzy and I realized in order to take the company to the next level, we needed a large strategic partner to help expand our services. The high demand and continued expected growth put our current resources to the test, so we engaged Hyde Park Capital to find the right partner to help us.  LTP is somebody we felt very comfortable with and confident in to continue to grow the Acree business. We are incredibly thankful to have had Hyde Park help us with this process and excited to be partnered with LTP.  We could not be happier with our decision and are excited to watch our HVAC, electrical and plumbing services expand throughout the United States.”

Michael Trino, President of Acree, commented “The entire Acree team and I are excited to join the LTP family. Our companies share many similarities, including strong cultures centered around employee wellbeing and customer satisfaction. Leveraging LTP’s marketing experience and organic growth strategy positions Acree to fulfill its vision of being a regional leader in the home services industry. I am confident our success will continue well into the future under LTP’s leadership.”

Jeff Cooper, CEO of LTP, said, “Partnering with Acree is a continuation of our acquisition growth strategy.  Acree is the preeminent home services company in the Tampa area, with a market leading position in HVAC and plumbing.  We admire the successful business and strong team Victor, Suzy and Michael have built, and their tireless focus on serving their customers. We share a company culture of excellence and look forward to what we can accomplish together.”

John McDonald, Senior Managing Director of Hyde Park Capital, said, “We are thrilled to have had the opportunity to represent the leading provider of HVAC, plumbing and electrical services to Tampa residents for over 40 years. Vic, Suzy and Michael were a pleasure to work with along with the rest of the deal team. Vic and Suzy engaged us with the sole purpose of transacting with LTP and were very clear on the price and terms that they wanted us to achieve for them. We are very glad we were able to realize their objectives and give them an outcome that they are very pleased with.”

About Acree Plumbing, Air & Electric

Acree Plumbing, Air, & Electric is one of the oldest, most trusted residential, plumbing, HVAC, and electrical companies in Tampa, FL. Acree is fully licensed, bonded, and insured, offering same day service. Incorporated in 1967, Acree offers a full suite of residential maintenance services including new installation, regular maintenance, and urgent repairs. Acree provides services to 60,000+ customers, in the Greater Tampa area. For additional information, please visit www.trustacree.com.

About LTP Home Services d.b.a Len the Plumber

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 additional information, please visit www.lentheplumber.com.

About L Catterton

Since 1989, L Catterton has made more than 250 investments in leading consumer brands across all segments of the consumer industry. With approximately $30 billion of assets under management dedicated to growing middle market companies and emerging high-growth enterprises, L Catterton is one of the largest and most experienced consumer-focused private equity groups in the world. For additional information, please visit www.lcatterton.com.

About Hyde Park Capital

Hyde Park Capital is an institutionally focused boutique investment banking firm specializing in mergers and acquisitions and focusing on serving the corporate finance needs of successful founder and family-owned companies. Hyde Park’s principals have extensive investment banking experience managing merger and acquisition engagements, including executing sell-side and buy-side sale of company assignments, recapitalizations, financial advisory services, fairness opinions, and raising growth capital and acquisition financing for companies, including equity, mezzanine, and senior debt. Hyde Park Capital has extensive experience across numerous industry sectors, including industrial, technology, healthcare, business, and financial services. Hyde Park Capital is headquartered in Tampa, Florida, and is a member of FINRA and SIPC. Hyde Park Capital is also a member of the Geneva Capital Group (GCG) International M&A Alliance (see www.gcg.com). For additional information, please visit www.hydeparkcapital.com.

Media Contacts: 

John Hill 

Hyde Park Capital