Redwood Services Announces Investment in Parks Heating Cooling Plumbing & Electrical

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MEMPHIS, Tenn., March 26, 2024 (GLOBE NEWSWIRE) -- Redwood Services (“Redwood”), a home services firm focused on investing in leading residential HVAC, plumbing and electrical services companies in growing U.S. markets, today announced it has invested in Parks Heating Cooling Plumbing & Electrical (Parks).

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GlobeNewswire, Inc.

Retrieved on:

Tuesday, March 26, 2024

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B&J, Heat, Air conditioning, HVAC, Investment, Heart, Asset management

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PARK

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REDWOOD SERVICES

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MEMPHIS, Tenn., March 26, 2024 (GLOBE NEWSWIRE) -- Redwood Services (“Redwood”), a home services firm focused on investing in leading residential HVAC, plumbing and electrical services companies in growing U.S. markets, today announced it has invested in Parks Heating Cooling Plumbing & Electrical (Parks).
Parks was founded over 50 years ago and has been a leading provider of heating, air conditioning, plumbing, sewer and drain, and electrical services throughout Charlotte, N.C. ever since.
“For half a century, Parks has been providing outstanding services in Charlotte and building a reputation as a company that really cares for its people,” said Richard Lewis, CEO of Redwood Services.
“Redwood’s principles and philosophy mirror what we do on a daily basis at Parks,” said Wyatt Tucker, President and General Manager of Parks.

MEMPHIS, Tenn., March 26, 2024 (GLOBE NEWSWIRE) -- Redwood Services (“Redwood”), a home services firm focused on investing in leading residential HVAC, plumbing and electrical services companies in growing U.S. markets, today announced it has invested in Parks Heating Cooling Plumbing & Electrical (Parks).

Parks was founded over 50 years ago and has been a leading provider of heating, air conditioning, plumbing, sewer and drain, and electrical services throughout Charlotte, N.C. ever since. With more than 60 employees, Parks serviced nearly 7,000 customers last year.

“For half a century, Parks has been providing outstanding services in Charlotte and building a reputation as a company that really cares for its people,” said Richard Lewis, CEO of Redwood Services. “Putting people first is at the heart of everything we do at Redwood and we look forward to joining forces with their team to help their business thrive in the future.”

Long-time owner and native Charlottean, Wyatt Tucker, will retain a significant minority ownership stake as part of the investment. The Parks team will continue to operate and manage the business under the Parks’ banner and name, while Redwood will offer operational, strategic, and financial support to enhance the company’s growth in the Charlotte market.

“Redwood’s principles and philosophy mirror what we do on a daily basis at Parks,” said Wyatt Tucker, President and General Manager of Parks. “Our people are our biggest asset — and it’s refreshing to team up with a group that shares our values and commitment to our people and their families.”

Parks is Redwood’s fourteenth platform investment, following investments in Albany, New York-based Crisafulli Bros.; NC-based B&J; Albuquerque, NM-based Signature; New Orleans-based Keefe’s; Memphis, TN-based Best Care; Kent, OH-based Apollo; Jackson, MS-based Environment Masters; Phoenix-based Plumbing Medic; Indianapolis-based Service Plus; Cincinnati-based Arlinghaus; Fresno, CA-based Allbritten; Washington-based John C. Flood; and Tucson, AZ-based Rite Way.

About Redwood Services
Founded in 2020, Memphis-based Redwood Services is building a family of people-focused essential home service companies, actively investing in the HVAC, plumbing, and electrical trades throughout the United States. Redwood operates brands in the Arizona, D.C., Maryland, Virginia, California, Kentucky, Indiana, Mississippi, Ohio, Tennessee, Alabama, Louisiana, North Carolina, New Mexico, and New York markets as it continues to build out a national home services platform.

For more information, visit RedwoodServices.com.

Release Photo
From left to right: Shaun Hardick, John Conway, Wyatt Tucker, Lora Tucker, Richard Lewis, David Katz, Sandra Koblas

Media Contact
Madison Thomas
CSG for Redwood Services
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2030409f-9dd2-4193-a7c1-0b49847c4894