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Flow Service Partners, a portfolio company of RLJ Equity Partners and LP First Capital, acquired Nunning Heating, Air Conditioning and Refrigeration. The acquisition expands Flow's footprint in Indiana and reinforces its commitment to providing quality service to its commercial customers. Financial terms of the transaction were not disclosed.
Founded in 1978, Nunning specializes in providing HVACR installation, repair, and maintenance services to commercial customers. Nunning has built a strong reputation for providing exceptional service to its customers.
John Aimone, President of Nunning Heating, Air Conditioning and Refrigeration, said, "This partnership will enable us to expand our service offerings and reach more customers while maintaining our commitment to quality service." Nigel Howard, Managing Director at RLJ Equity Partners, said, "Nunning's focus on service has been the cornerstone of its success, and we are excited to continue building on that legacy." Thomas Ince, Managing Director at LP First Capital, said, "We are excited to welcome Nunning to the Flow family."
Headquartered in Nashville, TN, Flow is a provider of heating, ventilation, air conditioning, and refrigeration and plumbing services. Through its partners, Flow currently operates in Delaware, Florida, Indiana, Kentucky, Maryland, and Pennsylvania and has approximately 350 employees.
Headquartered in Bethesda, MD, RLJ Equity Partners is a middle-market private equity firm with approximately $440 million in capital under management focused on generating long-term capital appreciation by investing in profitable and growing businesses led by strong management teams.
Founded by Robert L. Johnson and headquartered in Bethesda, MD, The RLJ Companies is an innovative business network that provides strategic investments to a diverse portfolio of companies in the media and entertainment, financial services, real estate, hospitality, and gaming industries.
LP First Capital is a private investment firm with experience creating super-regional and national platforms by leveraging its expertise in mergers & acquisitions, profit center integration, and team building to drive performance. Headquartered in Austin, TX, LP First Capital maintains an active presence in much of the Southwest, Southeast, and Midwest markets.
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