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The latest partnership is Redwood’s sixth platform investment overall and second this month
MEMPHIS, Tenn., June 08, 2022 (GLOBE NEWSWIRE) — Redwood Services (“Redwood”), a home services company focused on investing in leading residential HVAC, plumbing and electrical service companies in growing U.S. markets, announced announced today that it has made an investment in Plumbing & A/C Medic (“Plumbing Medic”).
Founded in 2006 by Colby and Dannielle Julian, Plumbing Medic has grown into a leading provider of plumbing and sewerage services in Gilbert, AZ with more than 45 employees and 6,000 active customers.
“We are excited to support Colby, Dannielle and the Plumbing Medic team in their next phase of growth,” said Richard Lewis, CEO of Redwood Services. “Phoenix is a large market for HVAC and plumbing contractors, and Plumbing Medic has distinguished itself in its market as a vendor and employer of choice. We are excited to welcome Plumbing Medic to the Redwood family.”
As part of the investment, Colby and Dannielle Julian, co-founders of Plumbing Medic, will retain a significant minority interest. The Plumbing Medic team, led by Colby as President and Dannielle as General Manager, will continue to operate and manage the business under the Plumbing Medic banner and name, while Redwood provides operational, strategic and financial support to support the Company’s growth in the marketplace to promote in Arizona .
“At Plumbing Medic, we are passionate about putting people into commerce and leading an authentic team committed to providing excellent service to our customers,” said Colby Julian, President of Plumbing Medic. “Redwood allows us to grow without uprooting our culture and families. They believe in what we do and have energized us as we continue to be a long-term provider of household services to our community.”
Plumbing Medic is Redwood’s sixth overall platform investment, following the company’s investment in Indianapolis-based Service Plus last month. Redwood previously announced investments in Cincinnati-based Arlinghaus, Fresno-based Allbritten, DC-based John C. Flood and Tucson-based Rite Way.
About Redwood Services:
Founded in 2020, Memphis-based Redwood Services is building a family of people-centric, essential home services companies that actively invest in the HVAC, plumbing and electrical industries throughout the United States. Redwood operates brands in the Arizona, DC, Maryland, Virginia, California, Ohio, Kentucky and Indiana markets to build a national home services platform. Visit RedwoodServices.com for more information.
Contact: Kaitlyn Gartling
CSG for Redwood Services
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/973349e6-93e5-430d-81df-c308411f14e8