HOUSTON--(BUSINESS WIRE)--Rock Hill Capital Group (“Rock Hill”) today announced that it has completed a majority recapitalization of LQC Pipe and Supply, LLC (“LQC” or the “Company”), a Houston-based wholesale distribution business providing pipes, valves and fittings to midstream and downstream end-users.
LQC was founded in 2008 by Frank “Skip” Spinale. In 2012, his business partner, Tim Rodabough, joined the Company. LQC inventories and distributes carbon steel, stainless steel and special alloy products which are applicable to nearly all natural gas related infrastructure projects and downstream turnaround projects. LQC has become the preferred vendor for many large engineering and construction customers because of its unwavering service-oriented approach. Additional information on LQC’s offerings can be found at www.lqcpipe.com.
“Rock Hill is proud to partner with Skip and Tim. They both served their country as decorated veterans and have together built a great company. We are excited about the growth prospects of the company and look forward to working with Skip and Tim and their team,” Randall B. Hale, Managing Director of Rock Hill.
“We knew through prior experience it was time to bring in a financial partner to achieve our growth initiatives and to properly serve our customers given the large amount of work in front of us. Rock Hill is the perfect partner to help LQC achieve the Company’s next chapter of growth,” said Tim Rodabough. Skip Spinale added, “The management team was not only looking for a partner with knowledge and experience in this field and sector, but one who has proven to work effectively with entrepreneurial businesses. We found that partner in Rock Hill.”
LQC represents the fourth investment by Rock Hill’s third fund – Rock Hill Capital III, L.P. Debt financing, and legal representation services for the transaction were provided by Green Bank and Winston & Strawn, respectively.
About Rock Hill Capital
Rock Hill Capital, founded in 2007 and headquartered in Houston, Texas, is a private equity firm that invests in small-to-lower middle market companies located in the South and Southeast U.S. Rock Hill is currently investing out of its third committed capital fund totaling $150MM focusing on companies in the industrial products and services industries. Take a deeper look at Rock Hill Capital and what makes our investments successful by visiting www.rockhillcap.com.