Len The Plumber, which is backed by Thompson Street Capital Partners, has acquired Russo Bros, an East Hanover, New Jersey-based provider of residential HVAC, plumbing, electrical and indoor air quality services. No financial terms were disclosed.
ST. LOUIS (December 20, 2021) – Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, today announced its portfolio company Len The Plumber (LTP), a leading full-service residential home services company based in Baltimore, Maryland, with branches serving the Mid-Atlantic region, has completed the acquisition of Russo Bros. Russo Bros. is a full-service provider of residential HVAC, plumbing, electrical and indoor air quality services located in East Hanover, New Jersey. Founded in 1954, Russo Bros. serves three counties in northern New Jersey. Russo Bros.’ Co-Owner, Matt Russo, will stay on post-close and continue to run the business, while Co-Owner, Mark Russo, will support the business for a transitional period and subsequently retire. Terms of the transaction were not disclosed.
Jeff Cooper, CEO of LTP, said, “Russo Bros. was identified as a key partner to help us expand our residential services in the New Jersey market. Matt and Mark have grown a family business with a long history into a successful company with a great team, experienced technicians, and a high standard of customer service. We are looking forward to building on these efforts as we work together to drive growth into the future.”
Jeff Aiello, TSCP Managing Director, added, “We are very enthusiastic to partner with Russo Bros. Matt and Mark have built an impressive business which complements our Len The Plumber platform nicely in terms of both service lines and geographies. I look forward to seeing what these two businesses can accomplish together.”
About Thompson Street Capital Partners
Thompson Street Capital Partners (www.tscp.com) is a St. Louis-based private equity firm focused on investing in founder-led middle market businesses in the Life Sciences & Healthcare, Software & Technology, and Business and Consumer Services and Products sectors. TSCP partners with management teams to increase value by accelerating growth, both organically and via acquisitions.