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.
What It Buys
Austin, TX. 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
3 deals traced to announcements by LP First Capital, 2022 to 2025, 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.
- Frank's Collision Repair (into OpenRoad) · November 18, 2025
A Texas collision shop joining the OpenRoad family, extending the platform's home-state footprint.
- Cascade Services · January 16, 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.