The Home Service Expert Podcast Building Wealth Through Private Equity in Home Services with Richard Lewis and Adam Hanover
24 snips
Dec 22, 2025 Richard Lewis, founder of Redwood Services, and Adam Hanover, co-founder of Union Main Group, delve into private equity's role in home services. They discuss their 'build-to-hold' strategy, emphasizing long-term partnerships over quick profits. The duo highlights the importance of preserving local company culture while scaling and the strategic use of technology to enhance operations. They also tackle common misconceptions about private equity and share valuable lessons for entrepreneurs regarding sustainable growth and investment. This conversation offers a refreshing perspective on building wealth in the service sector.
AI Snips
Chapters
Transcript
Episode notes
Leaving Corporate To Build People-First Roll-Up
- Richard left ServiceMaster to start Redwood after seeing large companies strip culture from acquired businesses.
- He built a people-first roll-up that grew to ~$600M revenue and 2,500 employees in five years.
Build To Hold Beats Quarter-Driven Deals
- Adam's 'build to hold' philosophy prioritizes long-term ownership over short-term exits and quarterly pressures.
- That mindset allows investment in people, systems, and culture that may reduce near-term EBITDA for greater long-term value.
Invest In Talent And Systems Early
- Do invest in controllers, HR, and local resources even if EBITDA dips short-term to enable long-term scalable growth.
- Think like a long-term owner and make decisions you'd be comfortable with if you held the business forever.