Using quadrotors UAVs for cooperative payload transportation using cables has been actively gaining interest in recent years. Understanding the dynamics of these complex multi-agent systems would help towards designing safe and reliable systems. In this work, we study one such multi-agent system comprising of multiple quadrotors transporting a flexible hose. We model the hose as a series of smaller discrete links and derive a generalized coordinate-free dynamics for the same. We show that certain configurations of this under-actuated system are differentially-flat. We linearize the dynamics using variation-based linearization and present a linear time-varying LQR to track desired trajectories. Finally, we present numerical simulations to validate the dynamics, flatness, and control.