Redwood Services Invests in Twin Cities Contractor
Representatives of Dean's Home Services and Redwood Services gather to mark Redwood's investment in Dean's, which is based in Minnesota's Twin Cities area. From left are Chance Dye, a Redwood mergers and acquisitions associate; David Katz, Redwood chief collaboration officer; Richard Lewis, Redwood founder and CEO; Jeremy Shepard, Dean's president; Stephanie Olson, Dean's general manager; Scott Brinkley, Redwood senior vice president of operations; John Conway, Redwood COO; Shaun Hardick, Redwood CFO; and Sandra Koblas, Redwood senior vice president for human resources.
Photo courtesy of Redwood Services
MEMPHIS, Tenn. — Redwood Services, a home services firm focused on investing in leading residential HVAC, plumbing, and electrical services companies in growing markets, has invested in Minnesota-based Dean’s Home Services.
Dean’s was founded in 1996 and serves the Minneapolis-St. Paul region with HVAC, plumbing, electrical, and sewer and drain services. Dean’s has more than 120 employees 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,” said Richard Lewis, CEO of Redwood Services, in a press release.
Dean’s owners Jeremy Shepard and Stephanie Olson will retain a minority ownership stake as part of the deal with Redwood, the press release said. 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, the press release said.
“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 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.
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