Building Wealth Through Private Equity in Home Services with Richard Lewis and Adam Hanover

Building Wealth Through Private Equity in Home Services with Richard Lewis and Adam Hanover

Author: Tommy Mello: $200 Million Founder|Forbes, Inc., Entrepreneur Columnist December 23, 2025 Duration: 1:14:41

In this conversation, Richard Lewis and Adam Hanover, founders of Redwood Services, discuss their unique approach to private equity in the home services industry. They emphasize the importance of partnerships, culture, and a long-term investment strategy that prioritizes the growth and success of local businesses. The discussion covers their backgrounds, the philosophy behind their 'build to hold' strategy, and the significance of operational excellence and leadership in achieving sustainable growth. They also address the perception of private equity and the role of technology in enhancing business operations.

00:00 Introduction to Redwood Services and Its Founders
06:01 Adam Hanover's Background and Investment Philosophy
08:57 The Build to Hold Strategy in Private Equity
11:46 Partnerships and the Importance of Culture
14:56 Revenue Streams and Operational Excellence
20:55 Identifying Ideal Partner Companies
23:47 Economies of Scale vs. Local Management
32:47 Marketing and Customer Retention Strategies
38:57 Lessons Learned and Advice for New Entrepreneurs
42:08 The Role of Technology in Home Services
44:46 The Perception of Private Equity

For anyone running a home service business-be it plumbing, HVAC, or a dozen other trades-the daily grind can feel isolating. You’re solving problems for customers while wrestling with your own, from hiring the right technicians to figuring out which marketing actually works. That’s where The Home Service Expert Podcast comes in. Host Tommy Mello isn’t just another commentator; he’s a founder who has built his own companies to a staggering $200 million in revenue, and he shares his hard-won perspective as a columnist for major publications like Forbes, Inc., and Entrepreneur. Each episode feels like a direct conversation with the sharpest minds in the field. Tommy brings on leading entrepreneurs and specialists, not only from home services but from adjacent industries, to unpack the precise tactics that drive real growth. You’ll hear practical discussions that skip the theory and dive into applied knowledge, covering everything from leveraging new digital tools to executing scaling strategies that protect your company’s culture. The dialogue is built on a foundation of genuine experience, offering a sense of camaraderie and actionable advice for owners who are serious about building a legacy, not just a job. This podcast serves as a vital resource for turning operational challenges into your biggest opportunities.
Author: Language: English Episodes: 100

The Home Service Expert Podcast
Podcast Episodes
Transforming Data into More Calls and Better Conversions [not-audio_url] [/not-audio_url]

Duration: 49:26
Chris Yano is the CEO of RYNO Strategic Solutions and has been leading the company since 2008. He is an experienced business owner, investor, and philanthropist with a heart for the trades and a successful history workin…
Mastering the Principles of Influence with Dr. Robert Cialdini [not-audio_url] [/not-audio_url]

Duration: 1:11:53
Dr. Robert Cialdini is the Founder of Cialdini Institute and the President of Influence at Work. Recognized as the "Godfather of influence," he is known for his cutting edge scientific research and ethical business and p…
How to Develop Mental Toughness to Edge Out The Competition [not-audio_url] [/not-audio_url]

Duration: 59:10
Andy Elliott is the CEO and Co-founder of The Elliott Group, the fastest growing automotive sales training company and virtual training program in the world which currently trains 185,000 salespeople across the globe. He…
Q&A With Tommy - Moving Beyond Revenue Goals for Lasting Success [not-audio_url] [/not-audio_url]

Duration: 54:42
Tommy Mello is the author of Home Service Millionaire and Elevate, and the founder of A1 Garage Doors, a $200 million-plus home service business with over 700 employees in 19 states. Through HomeServiceMillionaire.com an…
Mastering Arbitrage and Turning Small Acquisitions into Big Gains [not-audio_url] [/not-audio_url]

Duration: 58:37
Travis Ringe is the President of ProSkill Plumbing, Heating & Air, the Phoenix Area's Premier plumbing, heating and air conditioning service contractor. Proskill Plumbing was established in 2008 by Travis and his brother…