Kirkland & Ellis Advises Altas Partners on Equity Investment in Redwood Services.
Kirkland & Ellis LLP advised North American investment firm Altas Partners in its equity investment in Redwood Services, a leading national platform in the essential home services sector.
The transaction was announced on May 8, 2025, and is expected to close in the second quarter, subject to regulatory approvals.
The investment expands Redwood’s investor group alongside founding backer Union Main Group and reflects continued investor interest in the residential HVAC and plumbing sector, where Redwood has established a strong and growing national presence. Terms of the transaction were not disclosed.
Today, Redwood supports more than 2,500 employees and generates over $500 million in annual revenue.
Its growth strategy centers on partnering with local, independently operated service providers and offering centralized operational support through its Partner Support Center, a model designed to fuel consistent performance while preserving local identity.
“Altas is the ideal partner as we embark on our next phase of growth,” said Richard Lewis, founder and CEO of Redwood Services.
“We’ve built a nationwide, people-first platform that empowers elite contractors through local alignment and world-class support. Our Partner Support Center helps our Partners unlock their full potential, enabling them to deliver exceptional service and build lasting customer relationships. We’re proud of what we’ve built, and we’re just getting started.”
Altas Partners described Redwood as one of the most compelling platforms in the industry. “We’ve spent several years studying the home services and residential HVAC space, and Redwood stands out as one of the premier platforms in the industry,” said Michael Korzinstone, a partner at Altas.
“Redwood’s impressive team, disciplined approach to growth, strong local alignment, and mission-driven culture set it apart from others in the industry.
Given our track record of helping scale leading services businesses in other sectors, we are confident we can provide the support and capabilities to help Redwood accelerate its growth while preserving what makes it exceptional.”
The Kirkland & Ellis team advising Altas included corporate lawyers Keri Schick Norton, Michael Weisser, Aidan Murphy, Julianna Debler Nester, Jonathan Carter, Oseremen Eromosele, and Anne Hicks; tax lawyers Liam Murphy and Vin Thorn; and debt finance lawyer Scott Rolnik.
Redwood was advised by Piper Sandler & Co. on financial matters. Legal counsel was provided by Debevoise & Plimpton LLP and Burch, Porter & Johnson, PLLC. Altas was also advised by Baird and Deutsche Bank on the financial side.
Kirkland & Ellis is a leading global law firm known for its excellence in M&A, corporate law, litigation, intellectual property, and private equity. With offices in key financial centers worldwide, the firm advises clients across a broad range of industries. Recognized for its work on high-stakes transactions and disputes, Kirkland delivers innovative legal strategies backed by deep industry knowledge. Its focus on complex deals and cutting-edge solutions positions it as a trusted advisor in the global legal market.
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