LP First Capital
The Firm
LP First Capital is an Austin firm founded by operators who, in their own words, have founded, scaled, and sold their own companies to private equity and have sat on your side of the table. Its six stated principles run from meritocracy and ownership protection to speed of decision-making, and its pitch is founder-friendly capital with value creation hardwired in.
Its registry record is platform-building in fragmented trades: OpenRoad, the collision-repair platform formed with Trivest from four Southwest shops in 2022 and still adding operators like Frank's Collision Repair in 2025, and Cascade Services, a home-services family spanning HVAC, plumbing, electrical, and exteriors.
For a searcher, LP First is the closest thing this registry has to a fellow operator across the table: its principals' sold-a-company biography is the same credibility a searcher claims, deployed at platform scale. Meeting them, know the operator-founded identity, the six principles, and the OpenRoad co-investment structure, because the firm defines itself against conventional private equity in exactly those terms.
Read again in September 2026: the sponsor's own press list stops at Frank's, while both platforms kept announcing. The collision network reached forty-one locations in five states with Oklahoma City and Gastonia additions in 2026, and the home services platform thirteen purchases, ten of them in Florida, by its own count. The formation row follows the platform's page, which prints February 2023 where the sponsor's list prints a year that cannot be right, and an Arizona partnership whose card sits a year after the day the site's own later post gives it is held out.
What It Buys
Austin, Texas. Builds super-regional platforms in fragmented trades from an Austin base: collision repair under OpenRoad with Trivest, plus home services spanning HVAC, plumbing, electrical, and exteriors.
Selling to them one day, or watching them as the other bidder? Track them in the Contact Book so the relationship has a next-touch date.
Confirmed Deals
11 deals traced to announcements by LP First Capital, 2022 to 2026, newest first. Firms that announce every deal show a fuller run here than firms that report acquisitions as quarterly counts, so read this as the evidence that clears the bar rather than as the firm's whole record.
- Wilson Collision Center (into OpenRoad) · September 1, 2026
A Gastonia, North Carolina collision shop taken as a partnership, the collision platform's entry into the state.
- Davis Paint & Collision (into OpenRoad) · June 8, 2026
A family-owned Oklahoma City collision business with three metro locations that joined the platform, now forty shops.
- Frank's Collision Repair (into OpenRoad) · November 18, 2025
A Texas collision shop joining the OpenRoad family, extending the platform's home-state footprint.
- Icon Restoration (into Rewind Restoration) · November 12, 2025
A Rochester Hills, Michigan property restoration company, the first purchase of a restoration platform formed the same day.
- East Coast Mechanical (into Cascade) · October 24, 2025
A Boynton Beach, Florida air conditioning company bought from Air Pros Solutions, the platform's thirteenth purchase.
- Harrington Air Conditioning (into Cascade) · April 8, 2025
A Pinellas County, Florida air conditioning company founded in 1979 that keeps its name, the platform's twelfth purchase.
- Sun Plumbing and Smith & Keene Home Services (into Cascade) · September 5, 2024
A Melbourne, Florida plumbing company and a carved-out Chesapeake, Virginia home services division in one release.
- Kabran, Comfort Experts and Hearth and Home (into Cascade) · January 11, 2024
Three Florida residential HVAC companies in one release, in the home services platform's second year.
- Bill Knight Collision (into OpenRoad) · September 12, 2023
A six-shop Tulsa and Stillwater, Oklahoma collision operator taken as a partnership by the platform.
- Cascade Services · February 8, 2023
A residential HVAC, plumbing, and electrical platform formed with Trive from four Florida contractors.
- OpenRoad · September 6, 2022
The collision-repair platform itself, formed with Trivest from four Southwest shops with Car Crafters as the anchor.