MEMPHIS, Tenn .– (BUSINESS WIRE) – Redwood Services (“Redwood”), a newly formed home services company focused on investing in leading HVAC, plumbing and electrical services companies in growing US markets, announced today that it has partnered with Rite Way Heating, Cooling & Plumbing (“Rite”) entered way “).
Rite Way is one of the largest and most successful HVAC companies in southern Arizona, providing a range of cooling, heating, plumbing, water and air quality services to homeowners in the area. Serving the metropolitan area of Tucson for more than 60 years, Rite Way has built a reputation for caring for both customers and employees.
As a recognized industry leader, Rick Walter, President of Rite Way, retains a significant stake and he and his team will continue to operate and manage the business under the Rite Way banner and name. Redwood plans to strategically provide capital and resources to Rite Way to support Rite Way’s growth as the leading employer and provider of essential household services in the Tucson area.
“An investment in Rick Walter’s vision for Rite Way demonstrates Redwood’s mission to partner with people-centric home service companies. We are honored to have the opportunity to help Rite Way reach the next chapter of growth, at the same time protect the rich culture, brand and legacy of the company, “said Richard Lewis, CEO of Redwood Services.” When we first spoke with Rick and his team, we were impressed by the culture, the over 60 year history of success in the Tucson market , a shared passion for people and a focus on customer service. We have selected a great partner in Rite Way and we look forward to supporting the entire team under the leadership of Rick and General Manager Chris Sundin. ”
“We are excited to work with Redwood Services to develop a shared vision for the growth of Rite Way,” said Rick Walter, President of Rite Way. “Redwood’s recognition and support of our people-centered culture is a critical difference that makes this partnership a great addition to us. Our employees, customers, and the Tucson community will benefit from an even stronger operational framework that will enable us to continue to provide the best services and equipment. ”
With more than 11,000 active customers, Rite Way has an A + Better Business Bureau rating and a 4.9-star rating on Google with over 2,000 reviews. Rite Way, which has a growing team of more than 140 employees, was named a Tucson Favorite Employer by the Arizona Daily Star.
This is Redwood’s first platform investment. Burch Porter Johnson LLP acted as legal advisor to Redwood and Rusing Lopez & Lizardi, PLLC, represented Rite Way and its major shareholder, Rick Walter.
About Redwood Services
Founded in 2020 by Richard Lewis, Redwood Services is building a family of human-run home service companies committed to improving the homeowner’s experience. You are actively investing in major home service companies in the HVAC, plumbing, and electricity sectors in the United States. Please visit RedwoodServices.com for more information.
About Rite Way
Founded in 1959, Rite Way Heating, Cooling & Plumbing is a people-centric heating, air conditioning and plumbing company. Rite Way is one of the largest residential HVAC service providers in Tucson, currently serving over 11,000 active residential clients with more than 140 team members. More information is available at RiteWayAC.com.
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