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Founder / Operator·Home Services

Richard Lewis

Founder & Chief Executive Officer at Redwood Services

Memphis, Tennessee, USA

RL
Why they matter

Founder-CEO of Redwood Services, a fast-scaling PE-backed trades roll-up ($0 to $500M+ revenue in ~5 years) with direct sourcing and integration playbook insight for home-services deals.

Background

Richard Lewis founded Redwood Services in 2019/2020 after roles at Bear Stearns and The ServiceMaster Company, where he held strategy and P&L leadership positions across Terminix, TruGreen, and Furniture Medic, and earned an MBA from Emory University. Backed initially by Union Main Group, Redwood acquires and partners with residential HVAC, plumbing, and electrical contractors nationwide, growing from zero to roughly $500M+ in annual revenue in about five years. He describes his model as taking majority stakes (roughly 75%) in owner-operated trades businesses while letting founders retain meaningful equity upside.

Notable deals

  • 2021
    Redwood Services announced its investment in John C. Flood of Virginia, a 1904-founded DC-area plumbing/HVAC/electrical firm, marking Redwood's second platform investment
  • 2024
    Redwood Services announced its investment in Tony's Plumbing (Modesto, CA), its 16th platform investment, with Lewis quoted on the deal rationale
  • 2025
    Redwood Services announced a strategic equity investment from Altas Partners, expanding its investor base alongside founding backer Union Main Group; Lewis quoted on the next growth phase
  • 2026
    Redwood Services acquired the Sierra Platform (five partner companies including Brothers Plumbing, Heating & Electric) from SE Capital, adding ~400 employees and entering Las Vegas, Denver, and Boise markets

Call-prep brief

Background

  • Founder & CEO of Redwood Services (est. 2019/2020, Memphis, TN), a Union Main Group-backed acquirer of residential HVAC, plumbing, and electrical trades businesses.
  • Prior career: Bear Stearns analyst, then multiple strategy/P&L leadership roles at ServiceMaster brands (Terminix, TruGreen, Furniture Medic). MBA, Emory University.

Current Focus

  • Scaling a national "platform" model: Redwood has completed 19+ platform investments and dozens of tuck-ins, growing from zero to $500M+ revenue.
  • Received a strategic growth-equity investment from Altas Partners (2025), expanding beyond founding backer Union Main Group — signals next phase of capital-intensive scaling/M&A.
  • Recently pushed into new geographies (Nevada, Colorado, Idaho, Oklahoma) via larger platform acquisitions like Sierra Platform (2026) and Hendrick Heat, Air & Plumbing (2026).

What He Cares About

  • Preserving owner/operator culture and brand identity post-acquisition (sellers retain meaningful minority stakes, ~25%).
  • Framing deals as wealth-creation for tradespeople ("I make millionaires for a living") — recruiting/retention narrative matters to him.
  • Operational support (financial, strategic) without over-centralizing local businesses.

Recent Moves / Sensitivities

  • Competing in a crowded field (Lewis has cited ~64 other PE firms chasing home-services trades) — may be sensitive about proprietary sourcing/valuation discipline.
  • New institutional capital (Altas) could mean board/governance changes worth probing tactfully.
  • Rapid deal pace raises integration-risk questions that may be a sore spot.

Questions to Ask

  1. How has the Altas Partners investment changed Redwood's acquisition pace, target size, or geographic priorities?
  2. What differentiates Redwood's sourcing/retention model from the ~60+ other PE roll-ups now competing for the same trades businesses?
  3. How do you evaluate integration risk and cultural fit before committing to a platform deal, especially for larger multi-brand acquisitions like Sierra?

Outreach draft

Subject
Question on Redwood's trades roll-up playbook
Hi Richard, I've been following Redwood's growth since the Fortune piece — going from a standing start to $500M+ in revenue while keeping owner-operators bought in is a rare combination in this space. We're spending time on the home-services/trades consolidation theme and would value your read on where the market is headed, especially given how competitive sourcing has become. Would you be open to a short call in the next couple of weeks to compare notes? Happy to work around your schedule. Best, [Placeholder Name]

Linked companies

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