Flow Service Partners Acquires South Florida's Altman Air Conditioning

What happened

Flow Service Partners, a Tennessee-based HVACR and plumbing services platform, acquired Altman Air Conditioning, a commercial HVAC and mechanical contractor in Lake Park, Florida. The deal was announced on August 25, 2026. Altman will keep operating under its own name and gets access to Flow's resources, technology and operational support. Financial terms were not disclosed.

The seller

Altman has served commercial customers in South Florida for more than four decades. It does commercial work only, from design through installation and maintenance. Its specialties are commercial unit replacements on fast-track schedules and HVAC and full mechanical design and construction, alongside repair work and maintenance programs built for each client.

Bruce Cropp is president. He holds the Florida certified mechanical contractor license Altman operates under. "For more than 40 years, our employees have worked hard to build Altman into a company our customers can depend on," Cropp said in the announcement. "Flow shares our commitment to our employees, our customers and the quality of service we provide." The announcement did not say what role he will hold after the deal.

The buyer

RLJ Equity Partners and LP First Capital formed Flow in June 2021 by recapitalizing three HVACR and plumbing companies in Florida and Indiana. Quad-C Management, a middle-market private equity firm in Charlottesville, Virginia, announced its investment in Flow in November 2024. Flow now has seven operating companies in Florida, Kansas, Indiana, Kentucky and Maryland. Its last announced acquisition before Altman was Weber Refrigeration & Heating in Dodge City, Kansas, in October 2025.

Altman is Flow's second Florida company. The other is Cortez Heating & Air Conditioning in Bradenton, which serves commercial customers across the state. "Altman will complement Cortez, an established Flow Service Partners company serving commercial customers across Florida, allowing us to expand our services, expertise, and resources available to customers while creating new opportunities for both teams," said Daniel Youman, Flow's chief executive. Jack Walker, a partner at Quad-C, said the investment "advances Flow's strategy of building density in attractive markets and supporting high-quality local operators with the capital and resources needed to grow."

What this means for commercial HVAC owners

Flow already had a commercial HVAC company working across Florida, and it still bought a second one, a commercial-only contractor in Lake Park, and kept that company's name. For regional commercial contractors, then, a platform that already operates in the state is a possible buyer. Walker said Altman represents the qualities Quad-C values in a partnership: "an experienced team, a strong market position and a proven history of serving complex commercial customers." An owner selling to private equity in a state where the buyer already has a company should ask early how the two would run side by side. Our guide to selling an HVAC business to private equity covers what these platforms look for.

OffDeal is an advisory firm that helps lower-middle-market business owners sell with confidence. Reach out to learn more about our expertise with commercial HVAC businesses in Florida.

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Source: PR Newswire - https://www.prnewswire.com/news-releases/flow-service-partners-acquires-altman-air-conditioning-expanding-its-commercial-hvac-capabilities-in-south-florida-302858409.html