Redwood Makes Its First Oklahoma Investment in Hendrick Heat, Air & Plumbing

What happened

Redwood Services, the Memphis-based home services platform, announced on July 7, 2026 that it had invested in Hendrick Heat, Air & Plumbing, a residential HVAC and plumbing company in Tulsa, Oklahoma. Redwood framed the deal as a partnership and called it its first investment in Oklahoma. Hendrick joins a network Redwood puts at more than 20 Partner Companies, and co-founder Justin Hendrick will continue leading the company's day-to-day operations after the transaction closes. Clew Partners served as buy-side advisor to Redwood. Financial terms were not disclosed.

The company

Justin and Shelby Hendrick founded the company in 2020 with John and Tori Snyder. It now employs more than 90 full-time teammates and serves more than 25,000 customers across the greater Tulsa area. Redwood describes it as one of the fastest-growing home service brands in Oklahoma.

The work is heating and air conditioning repair and replacement, plumbing from drain cleaning and water heaters through slab leaks and sewer lines, and home generator installation. Hendrick holds mechanical and plumbing licenses and operates from downtown Tulsa and a second location in Afton, covering communities from Sapulpa and Jenks to Owasso and Bartlesville, plus the Grand Lake area.

"We have spent the last six years proving what this team is capable of, and partnering with Redwood gives us the resources and support to take that to the next level," Justin Hendrick said.

The buyer

Redwood was founded in 2020 and backs residential HVAC, plumbing and electrical companies across the United States, which it calls Partner Companies. Union Main Group is its founding backer. In May 2025, Redwood announced a significant equity investment from Altas Partners, a firm with offices in Toronto and New York that says it typically makes one or two significant investments a year. At that announcement, Redwood reported more than 2,500 employees across 19 partner brands.

"Hendrick has built exactly the kind of business we look for in a Partner Company, a team that shows up for its customers and each other every single day, and a culture that takes real pride in the work," said Richard Lewis, Redwood's founder and CEO.

Two routes into new markets in 2026

Two months before Hendrick, Redwood bought the Sierra Platform from SE Capital: five residential HVAC, plumbing and electrical companies in Las Vegas, Denver, Tucson and Boise, with about 400 full-time employees between them. That deal took Redwood into Las Vegas, Denver and Boise at once. Oklahoma came a different way, through a single company. Owners weighing which kind of buyer fits can see how OffDeal works with HVAC and plumbing businesses.

What this means for HVAC and plumbing owners

Tulsa-area shops now compete for homeowners with a company that has an Altas-backed national platform behind it. For a younger shop, the useful fact is what Redwood chose to back in a new state: not a legacy contractor but a six-year-old business, which Redwood presented on its team and culture, with a co-founder still running it. An owner who built a fast-growing HVAC and plumbing company this decade now has a recent example of a national platform entering Oklahoma through exactly that kind of business.

OffDeal is an advisory firm that helps lower-middle-market business owners sell with confidence. Reach out to learn more about our expertise with HVAC and plumbing businesses in Oklahoma.

Own a HVAC and plumbing business with $5M–$100M in revenue? We’re glad to give you an honest read on what it’s worth and who would buy it — no pitch, no pressure. Get a free valuation.

Source: Redwood Services - https://redwoodservices.com/news/redwood-services-invests-in-the-team-and-culture-behind-tulsas-hendrick-heat-air-plumbing