MEMPHIS, Tenn. — Redwood Services, a home services firm focused on investing in residential HVAC, plumbing, and electrical services companies in growing markets, has invested in Parks Heating Cooling Plumbing & Electrical, located in Indian Trail, North Carolina.

Parks was founded more than 50 years ago and provides HVAC, plumbing, sewer and drain, and electrical services throughout the Charlotte, North Carolina, area. 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, in a press release. “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 Parks owner and native Charlottean Wyatt Tucker will retain a significant minority stake in the company. 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, the press release said.

“Redwood’s principles and philosophy mirror what we do on a daily basis at Parks,” said 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.”

Redwood, founded in 2020, has brands in 14 states and Washington, D.C.