MEMPHIS, Tenn., Dec. 18, 2023 (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 B&J Plumbing, Heating, and Air Conditioning (“B&J”).
B&J is a family business that was founded in 1976 in Wilson, N.C. Today, B&J has over 60 employees and over 13,000 customers. Since 2020, B&J has more than tripled in size and is up over 40% in revenue this year alone.
Mark Wethington, President of B&J, will retain a significant minority ownership stake as part of the investment. The B&J team will continue to operate and manage the business under the B&J banner and name, while Redwood will offer operational, strategic and financial support to enhance the company’s growth.
"Mark and his son Travis have demonstrated tremendous business growth over the last few years. B&J is a recognized and trusted brand with strong customer satisfaction scores, which is a testament to the culture they’ve built and their dedication to continuing the family legacy," said Richard Lewis, CEO of Redwood Services. "B&J is a great fit in the Redwood Family and we look forward to accelerating the business together in the coming years."
“My team here at B&J is incredible, but I’ve led them as far as I can on my own,” said Mark Wethington. “I’m beyond confident that Redwood and their unmatched industry expertise is the right Partner to help us achieve our full potential. We are blessed to now be a part of the Redwood family and I couldn’t be more excited about the future.”
B&J is Redwood’s twelfth platform investment, following investments in Albuquerque, N.M.-based Signature; New Orleans-based Keefe's; Memphis, Tenn.-based Best Care; Kent, Ohio-based Apollo; Jackson, Miss.-based Environment Masters; Phoenix-based Plumbing Medic; Indianapolis-based Service Plus; Cincinnati-based Arlinghaus; Fresno, Calif.-based Allbritten; Washington, D.C.-based John C. Flood; and Tucson, Ariz.-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, Washington, D.C., Maryland, Virginia, California, Kentucky, Indiana, Mississippi, Ohio, Tennessee, Alabama, Louisiana and North Carolina markets as it continues to build out a national home services platform.
For more information, visit RedwoodServices.com.
From left to right: Shaun Hardick, David Katz, Richard Lewis, Travis Wethington, Mandy Wethington, Mark Wethington, Scott Brinkley, John Conway, Sandra Koblas
Media Contact
Madison Thomas
CSG for Redwood Services
redwoodservices@wearecsg.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a4160c71-b46b-4531-918f-3d5614fb5453
