Carroll Capital Acquires Charlie's Plumbing in Partnership with the Founding Family to Launch New Platform in the Commercial Plumbing Sector

HOUSTON and GREENWICH, Conn., Oct. 16, 2025 /PRNewswire/ -- Carroll Capital, a family investment office, has acquired Charlie's Plumbing ("Charlie's"), a commercial plumbing service company serving the greater Houston market. Carroll Capital is partnering with the founding family and current owners, Merrill Crawford, Logan Whitt and Austin Whitt, who will continue to lead Charlie's and remain shareholders of the Company. Charlie's welcomes Carroll Capital as its new business partner to support its growth in Houston and to expand into new markets in Texas for plumbing and other related commercial services.

Charlie's is a 24/7 full-service, commercial plumbing company specializing in scheduled and emergency repairs for water, gas and sewer applications in its customers' critical settings. The Company has grown rapidly by delivering plumbing solutions that resonate with Houston's most sophisticated and blue-chip commercial clients. Charlie's offers high standards for quality work, full-suite capabilities, quick response times, skilled technical employees and highly responsive customer service. In addition to its core plumbing business, the Draft Horse Division installs and maintains draft beverage systems for hospitality customers. Draft Horse and Charlie's Plumbing are complementary services for many customers. Charlie's has experienced impressive growth over the last two decades under the leadership of President and CEO Merrill Crawford and the executive team of Vice President of Field Services Logan Whitt and Vice President of Operations Austin Whitt.

"I was looking for a partner to join Charlie's who shared the same values our Company has been built upon – taking care of clients and employees and prioritizing sustainable growth. Carroll Capital was excited to preserve our local brand while helping us expand into new markets," Merrill stated. "Carroll Capital is a unique partner for our Company and together we will continue the strong growth of Charlie's and build a successful company for the long-term."

"We are excited to partner with Merrill Crawford and the entire Charlie's team to drive continued growth and expansion of the business," Brian F. Carroll, Managing Partner of Carroll Capital stated. "With Carroll Capital's support and further investment, Charlie's will continue to lean into the values that have led to its success for the last 45 years: providing great service to customers and being the best place to work for talented technicians."

This partnership with Charlie's represents the latest platform investment for Carroll Capital in the service sector. Charlie's will embark on a long-term growth strategy of building the leading commercial plumbing service provider across all major Texas markets. The Company will develop a cohesive, full-suite offering by adding complementary services addressing beverage, hot and cold-side food service, and refrigeration.

Ice Miller and FTI served as legal counsel and accounting advisor, respectively, to Carroll Capital on the transaction while Augusta Advisors advised Charlie's on the transaction. The Bank of Montreal (BMO) provided debt financing in support of the transaction.

About Charlie's Plumbing

Founded in 1979, Charlie's Plumbing is a 24/7 full-service commercial plumbing company specializing in scheduled maintenance and emergency repairs for water, gas and sewer applications. As the leading provider in Houston, Texas, Charlie's serves customers across commercial, hospitality, educational, municipal, healthcare and industrial settings. Built on a foundation of quality, safety and reliability, Charlie's has earned a reputation as a trusted partner for complex plumbing needs. In addition, Charlie's Draft Horse division provides installation and maintenance of draft beverage, soda and coffee systems for hospitality and entertainment customers.
For additional information, visit www.charliesplumbing.com or www.draft-horse.com.

About Carroll Capital

Carroll Capital is a family investment office established by Brian F. Carroll to build an actively managed portfolio of market-leading businesses. Carroll Capital invests in businesses that offer differentiated, high value-added products and services that are mission critical to its customers. Carroll Capital is a unique partner for business owners, with complete alignment of interests with companies and shareholders and a long-term focus on building businesses. The Carroll Capital team takes an active role in driving value creation alongside its ownership partners and management teams. Previously, Brian F. Carroll was a Partner and Investment Committee Member at Kohlberg Kravis Roberts & Co., where he spent over two decades.
For additional information, visit www.carrollcapital.com. 

SOURCE Carroll Capital