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

The Home Service Expert Podcast

Tommy Mello

Management, Business

4.7 • 793 Ratings

🗓️ 22 December 2025

⏱️ 75 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

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

Transcript

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0:00.0	There are great investment professionals at almost every shop I know.
0:04.6	And there are really crappy investment professionals at almost every shop I know.
0:08.4	Focus on the individual.
0:09.7	Don't focus on the name.
0:11.0	Welcome to the Home Service Expert, where each week, Tommy chats with world-class entrepreneurs
0:16.6	and experts in various fields, like marketing, sales, hiring, and leadership to find out what's
0:22.7	really behind their success in business.
0:25.6	Now, your host, the Home Service Millionaire, Tommy Mello.
0:30.4	Before we get started, I wanted to share two important things with you.
0:33.8	First, I want you to implement what you learned today.
0:36.5	To do that, you'll have to take a lot of
0:38.1	notes, but I also want you to fully concentrate on the interview. So I ask the team to take notes for you.
0:44.2	Just text, note, N-O-T-E-S, to 888-526-1299. That's 888-526-1299, and you'll receive a link to download the notes from today's
0:58.0	episode. Also, if you haven't got your copy of my newest book, Elevate, please go check it out.
1:03.9	I'll share with you how I attracted and developed a winning team that helped me build a
1:07.4	$200 million company in 22 states. Just go to elevate and win.com for slash podcast to get your copy.
1:14.3	Now let's go back into the interview.
1:16.0	All right.
1:16.6	Welcome back to the Home Service Expert.
1:18.2	Today I got two special guests, Richard Lewis and Adam Hanover with Redwood Services.
1:24.2	They're an expert at a lot of things, but mostly private equity.
1:27.9	They're based in Memphis, Tennessee.
	...

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