Leonard Green & Partners
Los Angeles, CA · Founded 1989 · ~$10-100B AUM
Why it invests in the trades
Bought Wrench Group from Investcorp and in November 2022 brought TSG Consumer Partners and Oak Hill Capital in alongside management to fund the next growth phase — a classic partial-liquidity recapitalization that extends the hold rather than exiting. Wrench is Sarasota-headquartered and covers Tampa Bay.
Platforms in Tampa Bay (1)
Wrench Group
Local brands ultimately backed by Leonard Green & Partners (3)
Red Cap Plumbing & Air
CoolToday (N&M Cooling and Heating, Inc.)
Easy A/C
Deals
- Acquisition Red Cap Plumbing & Air → Wrench Group (backed by Leonard Green & Partners) · 105 employees
Frequently asked
What does Leonard Green & Partners own in Tampa Bay?
Red Cap Plumbing & Air, CoolToday (N&M Cooling and Heating, Inc.), Easy A/C, through Wrench Group.
Is Leonard Green & Partners a private-equity firm?
Yes.
How long will Leonard Green & Partners hold these companies?
Private-equity funds typically target a 3–7 year hold before a sale, recapitalization or continuation fund. See "Notable exits" for how this investor has behaved before, and Debt, exits and the 5-year clock.
Sources Verified — primary document
- Leonard Green & Partners — press release. Acquisition of Wrench Group from Investcorp; date not captured
- Leonard Green & Partners (2022-11-09) — press release. TSG + Oak Hill co-investment
- Investcorp (2019-04-08) — press release. LGP identified as the buyer of Wrench Group
- CT Acquisitions (2026-09-09) — other. Lists Wrench Group under Leonard Green & Partners as of 2026
Researcher notes: LA HQ from general knowledge; AUM band estimated, not sourced. | Founding year and AUM band are general firm facts, not drawn from the cited transaction sources.
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