Owners Andrew Molica, who serves as president and general manager, and Alex Molica, who serves as vice president, will retain a significant minority ownership stake as part of the investment. The Tony's team will continue to operate and manage the business under the Tony's banner and name, while Redwood will offer operational, strategic and financial support to enhance the company's growth.
There has been a lot of private equity activity in the service trades since the COVID-19 lockdowns. Suddenly, boring old businesses gained monetary sex appeal when they were declared essential and could continue making money while many other local businesses were effectively shuttered. This has led to a land rush for good service contracting businesses and many plumbers have grabbed the brass ring while the grabbing was seen as good.
