MEMPHIS, Tenn., May 21, 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 Dean's Home Services (“Dean's").
Dean's was founded in 1996 and proudly serves the Minneapolis-St. Paul region with HVAC, plumbing, electrical, sewer and drain services. Today, Dean's has over 120 teammates and serves more than 10,000 customers annually.
"Dean's has experienced substantial business growth in recent years, a reflection of their prudent decision-making and adaptability regardless of the business climate," stated Richard Lewis, CEO of Redwood Services. "Stephanie and Jeremy are exceptionally talented executives, who prioritize treating their employees well – earning a reputation in their community for attracting new hires through strong family connections and word-of-mouth referrals. We are eager to support Dean’s with our full suite of resources as they continue to grow."
Owners Jeremy Shepard and Stephanie Olson will retain a significant minority ownership stake as part of the investment. The Dean's team will continue to operate and manage the business under the Dean's banner and name, while Redwood will offer operational, strategic and financial support to enhance the company's growth.
"We have known and have been coached directly by several members of the Redwood team for years. And while we had confidence in those individuals and a desire to work with them daily, we also saw Redwood earn a reputation in the market over the last several years as a premier platform to partner with in building a best-in-class operation," said Jeremy Shepard, President of Dean's. "Now that we’re officially part of the Redwood family, we look forward to working with some of the brightest minds in the industry as we continue on our journey."
Dean's is Redwood's fifteenth platform investment, following investments in some of the highest performing residential HVAC and plumbing companies across the United States.
About Redwood Services
Founded in 2020, Memphis-based Redwood Services invests in people-powered partnerships with the highest performing residential HVAC and plumbing companies across the United States. Partners receive world-class resources, strategic investments and cross market collaboration from Redwood. Redwood operates 15 brands across the country as it continues to build out a national home services platform.
For more information, visit RedwoodServices.com.
From left to right: Chance Dye, David Katz, Richard Lewis, Jeremy Shepard, Stephanie Olson, Scott Brinkley, John Conway, Shaun Hardick, Sandra Koblas
Media Contact
Madison Thomas
CSG for Redwood Services
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