MEMPHIS, Tenn., April 04, 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 Keefe's A/C, Heating & Electrical (“Keefe's”).
Keefe's, which was founded in 1979 by Keefe Ditta, has nearly 125 full-time employees serving the New Orleans metro area and has served over 6,500 customers within the last two years.
"Keefe Ditta built his high-performing HVAC business from the ground up, largely in part due to hard work, determination and care for everyone around him. Given the passion he has for his team, his community and his customers, he’s a perfect fit for the Redwood family," said Richard Lewis, CEO of Redwood Services. “Additionally, Keefe’s has built a best-in-class generator business. We expect Keefe’s success in generator sales can be learned from and replicated by our Partners in comparable markets across the Redwood family."
Keefe Ditta will retain a significant minority ownership stake as part of the investment. The Keefe's team will continue to operate and manage the business under the Keefe's banner and name, while Redwood will offer operational, strategic and financial support to enhance the company’s growth.
"After getting to know the Redwood team, it's clear they have some of the best business coaches in the industry who will help grow my business,” said Ditta, founder and President of Keefe's. "We are particularly excited to leverage Redwood’s expertise and the knowledge across the Redwood Family to add plumbing services to our business offering to better serve our customers."
Keefe's is Redwood's tenth platform investment, following investments in Memphis-based Best Care; Kent, OH-based Apollo; Jackson, MS-based Environment Masters; Phoenix-based Plumbing Medic; Indianapolis-based Service Plus; Cincinnati-based Arlinghaus; Fresno-based Allbritten; D.C.-based John C. Flood; and Tucson-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, D.C., Maryland, Virginia, California, Kentucky, Indiana, Mississippi, Ohio, Tennessee, Alabama, and Louisiana markets as it continues to build out a national home services platform.
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/170971ad-31df-4212-a764-9ffce6ec9bdf
