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 agreed to invest in John C. Flood of Virginia (“John C. Flood”). Founded in 1904, John C. Flood offers plumbing, heating, air conditioning and electrical services to homeowners in the Washington D.C. metropolitan area and is one of D.C.’s oldest and most trusted brands.
Jim Seltzer, president of John C. Flood, will retain a significant minority ownership stake. Jim and his team will continue to operate and manage the business under the John C. Flood name. Redwood will support John C. Flood operationally, strategically and financially – with the capital and resources to enhance John C. Flood’s growth in the D.C. market.
John C. Flood is the second platform investment for Redwood, following the company’s investment in Tucson-based Rite Way Heating, Cooling and Plumbing (“Rite Way”) in December 2020 and Rite Way’s tuck-in acquisition of Tucson-based All Pro Rooter & Plumbing in April 2021. With the investment in John C. Flood, Redwood expands its reach from the Southwest U.S. to the East Coast as it seeks to build out a national network of premier home services companies.
"With 116 years of operation, the Company has been and remains committed to putting people first, reliability, competence, and high ethical standards – earning the trust of its long-time customers, employees and vendors,” said Richard Lewis, CEO of Redwood Services. “We’re thrilled to welcome Jim, Pat and the entire John C. Flood family into our own Redwood family and we are honored to have the opportunity to help them achieve their next chapter of growth.”
“We, at John C. Flood, are proud of the reputation we have earned within the D.C. community,” said Jim Seltzer, president of John C. Flood. “Our partnership with Redwood is a recommitment by me and my team to our customers, our employees and our vendors and to new customers in the surrounding areas who have yet to work with us. Redwood offers us deep operational and strategic expertise, M&A know-how and capital to invest in both our employees and our customers. Most importantly, the Redwood Team is comprised of good people who understand our culture and are committed to protecting and enhancing it.”
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 three brands in the Arizona, D.C., Maryland and Virginia markets as it seeks to build out a national network of premier home services companies. For more information, visit RedwoodServices.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210615005204/en/
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Kristie Flynn
kflynn@stoneward.com
