Current Capital Advises The Sterling Group on Acquisition of L&S Mechanical
Houston, Texas, September 3, 2021 – Current Capital is pleased to announce that The Sterling Group, an operationally focused middle market private equity firm, has acquired L&S Mechanical, a leading tri-trade provider of turnkey plumbing, HVAC and electrical installation services in the Texas residential market. Terms of the transaction were not disclosed.
Founded in 1985, L&S is headquartered in Richardson, Texas, and serves large production homebuilders in Dallas / Fort Worth, Houston, San Antonio, and Austin through its five production warehouses. The Company leverages a strong network of low-cost independent subcontracting crews for each stage of a project and provides its own personnel to oversee its subcontractors and job sites.
“Sterling’s ‘roll up your sleeves’ approach combined with their experience and success in building products are what make them a great fit for L&S,” said Thomas Mozjesik, President of L&S Mechanical. “With Sterling as our partner, we will accelerate our growth plans.”
Current Capital identified Sterling as a strong fit for L&S, given its deep experience in the building products distribution and services industries, having previously partnered with entrepreneur owners to build Roofing Supply Group, Construction Supply Group, Artisan Design Group, and Fencing Supply Group.
By leveraging Sterling’s experience investing in the sector, this investment and partnership is expected to help the company expand the L&S tri-trade model in both Texas and other states, and continue the impressive growth trajectory it has enjoyed in recent years.
“This is a perfect example of what we do well. Our team is particularly strong at developing innovative, actionable ideas, often working with industry leaders, and then identifying the right sponsor for those ideas. And, we’re thrilled to co-invest alongside our clients,” added Kevin Smith, Managing Director at Current Capital.
Current Capital advised The Sterling Group on the acquisition, providing senior attention and execution capabilities, deep industry knowledge and operating expertise, and industry leaders from the sector. Current Capital also co-invested alongside Sterling as part of the transaction.
About Current Capital Partners
Current Capital Partners LLC is an independent advisory and merchant banking firm focused primarily on the industrial and services sectors. We provide mergers and acquisitions advisory services, corporate management services, and private equity investing. The mergers and acquisitions advisory effort offers high-quality financial advisory services – including actionable ideas, buy-side and sell-side execution, strategic and capital structure reviews, restructuring advisory and related services – for corporate and investment firm clients seeking industry expertise, an independent perspective and senior attention. In our management services effort, we manage investments, provide restructuring advice, sit on Boards of Directors and provide related consulting services for other investors and financial institutions; and offer advice and expert witness services in complex corporate litigation. Our private equity investing business helps create value, primarily in lower middle market and smaller companies, with an integrated operating, finance and investment approach. Our Advisory Board and Executive Network are important advantages for our clients. Learn more at www.currentcap.com.
Kevin J. Smith
Telephone: +1 212 223 0637