Trive Capital Forms Tri-Trade Home Services Platform with Partners

Cascade Services was created through a partnership between Trive, LP First Capital, and an experienced management team to pursue acquisition opportunities in the residential HVAC, plumbing, and electrical services sector.

The Cascade team includes CEO Tyrone "Ty" Johnson, who previously was a Trive operating partner and chief executive officer of publicly traded Select Interior Concepts.

Dallas-based private equity firm Trive Capital announced the recent formation of Cascade Services, a premier residential tri-trade services platform.

Cascade Services was created through a partnership between Trive, LP First Capital, and an experienced management team to pursue acquisition opportunities in the residential HVAC, plumbing, and electrical services sector.

“Cascade has a strong reputation for providing high-quality service to its residential customers. We are excited to partner with Cascade to build an industry-leading tri-trade services platform,” Trive Capital Managing Director Eric Hsu said in a statement.

The company said Cascade Services has completed four acquisitions in the state of Florida with a family of brands including Mid-Fla Heating & Air, Air Boca, Aztil Air Conditioning, and Extreme Air & Electric.

Trive said it has partnered with a talented team that includes Chief Executive Officer Tyrone “Ty” Johnson, who previously was a Trive operating partner and chief executive officer of Select Interior Concepts, a publicly traded provider of interior surface products for residential and commercial applications.

Johnson looks forward to leading the new platform and working alongside its business unit operators to “achieve success together,” he said in a statement. “Developing the systems, tools, and process that enable small businesses to grow rapidly has been a hallmark of my career.”

Trive Capital Partner Chris Zugaro [Photo: Trive Capital]

Trive Partner Chris Zugaro says the PE firm is delighted to team up with Johnson again.

Zugaro says Johnson’s “track record in scaling businesses combined with his deep, meaningful relationships in the sector will position Cascade, its team, and its customers for continued positive outcomes as we invest in add-on acquisitions and internal initiatives.”

The newly formed company is actively seeing add-on opportunities in the residential HVAC, plumbing, and electrical services space, Trive said in a news release.

The PE firm, which has more than $4 billion of regulatory assets under management, invests equity and debt in what it sees as “strategically viable middle-market companies” that have the potential for a transformational upside through operational improvement.

LP First Capital is a private investment firm that uses its experience in mergers and acquisitions, profit center integration, and team building to create “powerful platforms” and outstanding companies in traditionally divided sectors.

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