LP First Capital: Buy Box & Recent Acquisitions

At a glance

EBITDA range	$3M to $10M S2
Check size	$10M+ S2
Deal types	Platform, Add-on S2
Sectors	Auto Services & Collision, Property Management & HOA, HVAC, Plumbing & Electrical, Landscaping, Roofing, Education

What LP First Capital buys

LP First Capital is an Austin, Texas private investment firm that partners with founder-led and family-owned service businesses in fragmented industries. It focuses on commercial, residential and education services, and looks for companies that can grow by opening new locations, by buying similar businesses, or both. Its partners have started, built and sold companies of their own, and the firm often invests alongside larger private equity partners, such as Trivest in OpenRoad Collision, Trive Capital in Cascade Services and Centre Partners in United Land Services.

For a new platform it looks for $3 million to $10 million of EBITDA and an enterprise value of $15 million to $75 million, and it invests $10 million or more of equity through a capital structure built for each deal. For add-ons it goes much smaller: $500,000 or more of EBITDA, $3 million or more of revenue and a value of $2.5 million or more. That puts a single collision center, auto repair shop, landscaper or HVAC contractor within reach as an add-on to one of its platforms.

Recent deals

Announced in the 24 months before October 26, 2026.

Date	Company	Type	Sector	Source
Sep 2026	Wilson Collision CenterGastonia, North Carolina collision repair shop added to OpenRoad Collision	Add-on	Auto Services & Collision	Source
Jun 2026	Davis Paint & CollisionCollision repair shop added to OpenRoad Collision	Add-on	Auto Services & Collision	Source
June 2026	Burns Auto GroupFamily of full-service mechanical auto repair brands in the Mountain West, set up as a buy-and-build platform	Platform	Auto Services & Collision	Source
Jan 2026	Wrightsville Beach Landscaping, H&O Grounds, Custom Tree Surgeons and a Florida rust removal providerFour add-ons for United Land Services that closed during 2025, bringing it to 25 acquisitions since 2020	Add-on	Landscaping	Source
Nov 2025	Icon RestorationMichigan restoration company that launched the Rewind Restoration platform for residential mitigation and restoration services	Platform		Source
Nov 2025	Frank's Collision RepairTexas collision repair shop added to OpenRoad Collision	Add-on	Auto Services & Collision	Source
Sep 2025	Torlan EngineeringPower systems engineering firm added to REI Utility Services	Add-on		Source

Portfolio by sector

From the firm's portfolio page S3.

Commercial Services

United Land Services
REI Utility Services
Fastest Labs

Consumer Services

OpenRoad Collision
Burns Auto Group

Education Services

Zollege
Total Seminars

Home Services

Curb Home Services

Residential Services

Northpoint Asset Management
Cascade Services
Rewind Restoration Partners

Various

SMB Labs

Past investments: Flow Service Partners

Greymont’s take

How LP First Capital fits a seller

LP First suits owners of local service businesses, such as collision centers, auto repair shops, landscapers, HVAC and plumbing contractors, restoration firms and property managers, who are open to joining a larger regional group. Its add-on threshold is low, so a company with as little as $500,000 of EBITDA can be a fit. Its platforms are built as families of local brands, and Rewind Restoration says it keeps each acquired company's brand and team in place.

LP First often shares ownership of a platform with a larger private equity firm, so the buyer may really be a partnership of two firms. Owners should ask which firm controls the platform and the timing of its eventual sale, how much equity they are expected to roll, and what will happen to their name and staff. The firm has already exited at least one platform, Flow Service Partners.

Questions owners ask

What size companies does LP First Capital buy?

For a new platform it targets $3 million to $10 million of EBITDA and $15 million to $75 million of enterprise value, with $10 million or more of equity. Add-ons can be much smaller, starting around $500,000 of EBITDA and $3 million of revenue.

Does LP First Capital buy collision or auto repair shops?

Yes. It formed OpenRoad Collision in 2022, which has since added shops including Frank's Collision Repair in Texas and Wilson Collision Center in Gastonia, North Carolina. In June 2026 it invested in Burns Auto Group, a family of mechanical repair brands in the Mountain West.

Does LP First Capital invest in property management companies?

Yes. It backs Northpoint Asset Management, which manages long-term single-family and multifamily rental homes across the U.S. LP First announced that it led the acquisition in January 2024, describing Northpoint as a top 10 single-family rental property manager.

Does LP First Capital invest on its own?

Often it does not. Its announcements show it forming platforms with other private equity firms, including Trivest for OpenRoad Collision, Trive Capital for Cascade Services, Centre Partners for United Land Services and Genesis Park for Fastest Labs.

Sources

S1LP First Capital home page Accessed October 26, 2026
S2LP First Capital: How We Invest Accessed October 26, 2026
S3LP First Capital: Companies (current and legacy partnerships) Accessed October 26, 2026
S4LP First Capital: Press Accessed October 26, 2026
S5United Land Services Completes Four Acquisitions in 2025 (Centre Partners, January 13, 2026) Accessed October 26, 2026
S6Open Road Collision: Latest News Accessed October 26, 2026
S7LP First Capital: Burns Auto Group Accessed October 26, 2026
S8LP First Capital: Northpoint Asset Management Accessed October 26, 2026
S9LP First Capital: Rewind Restoration Partners Accessed October 26, 2026
S10Rewind Restoration Partners home page Accessed October 26, 2026

Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with LP First Capital. Figures are as reported on the dates shown and may have changed. Request a correction