Fred's Plumbing provides a full range of services, including 24/7 emergency plumbing, leak detection and repair, preventative maintenance programs, and inspections. With 30 years of experience, the company is trusted by many commercial and multi-family properties for fast, honest, and reliable service.
When the company's ownership was transferred, the new operators needed a platform that would give them the flexibility to move, separate, and control money with ease. They were also looking for a setup that would provide a full picture of their cash flow at a glance and help their distributed team work more cohesively.
Before Relay: Strong fundamentals, but a steep learning curve
Thomas Pauly jokes that he and his brother William are "finance bros doing the cliche thing of buying a business." But in all seriousness, it had long been a goal of theirs. Thomas, who works in the stock market, and William, who works in private investment, wanted to build something meaningful alongside their careers. They took what they'd learned from their day jobs to modernize an already successful business that keeps local services available.
The only thing holding them back was the right opportunity. So, when they came across a listing to take over a 30-year operation, they jumped at the chance. That company was Fred's Plumbing in Dallas, Texas, which commercial and multi-family properties alike have trusted for decades for its fast, honest, and reliable service.
"We were attracted to the characteristics of the multi-family world," says Thomas. "It is somewhat AI-proof. It is non-cyclical and recession-resistant, and it's an essential service that everybody needs. So, we were excited about that. We were equally excited to bring a technology and investment approach to breathe some new life into this business."
The brothers were eager to make changes right away, but they quickly realized they would first need to build a stronger foundation with better systems. Dealing with unexpected issues around staffing, equipment, bills—even accidents and theft—made it difficult to make progress beyond what needed to be prioritized initially.
"We're still dealing with transition pains," Thomas says. "We tried to run before we walked and aggressively dove into optimization and growth."
The solution: An all-in-one banking and money management platform with Relay
Their search for a solution is how the Paulys came across Relay. According to William, it was the only all-in-one banking and money management platform they could find. It would help the brothers keep Fred's Plumbing steady as they navigated the realities of acquiring an established company.
By simplifying how money moves through the business, Relay frees up time that would otherwise be consumed by traditional business banking. This allowed the Paulys to prioritize strategy and stay present where it matters most—supporting their team and customers.
"I've come to a much better appreciation of what emergency services actually mean," William says. "[Our team] is out there solving real problems in the world, making people's lives better every day."
By leveraging Relay, the Paulys can better balance the day-to-day operations of Fred's Plumbing with long-term decisions, from evaluating contracts to ensuring the crew has the right tools and gear. Instead of being bogged down by administrative bottlenecks, they can approach each decision with diligence and confidence.
While the business is still evolving, the Paulys have built a stable financial foundation with Relay during a high-stakes transition—helping them move forward with focus, flexibility, and far fewer distractions.
The impact: Greater flexibility, transparency, and collaboration
Hassle-free and customized
Because the business deal was structured as an asset purchase, the Paulys couldn't carry over the existing bank account for Fred's Plumbing and had to open a new one. Getting set up online with Relay took just minutes and came with immediate advantages, such as the option to open up to 20 checking accounts1 without hidden fees, overdraft penalties, or minimum balance requirements. Relay also offers the flexibility to separate money for income, operating expenses, payroll, taxes, and profit—or even earmark funds for specific goals.
Tracks cash flow consistently, not reactively
Visibility into finances was just as critical. In the early days, the brothers had learned that their multi-family property customers each had different rules for invoicing and approvals. That slowed collections and put pressure on cash flow. To sustain the company, the Paulys had to contribute roughly a third of the purchase price over the first two and a half months. But now, with Relay's dashboard, they have a full picture of all accounts, transactions, and balances at a glance, making it easier to catch issues before they risk putting the business in the red.
Tools that keep teams in sync
On the operational side, Fred's Plumbing uses Relay to reduce friction for its highly distributed team. With 15 plumbers working in the field and five to six admins in the office, the software helps keep the team aligned across locations without slowing down work. Relay's built-in receipt capture, card-level spend controls, and automatic syncing with QuickBooks simplify expense tracking, clarify transaction details, and reduce cleanup and errors.
Relay: One less thing to worry about
Ultimately, Relay helps the Paulys steady the business, protect its legacy, and keep their long-held dream moving forward. "Relay's never come up as one of the problems we have to solve," says William. "And each day, lots of problems come up. It's not an issue. It just works. It has what we need. And we can focus our attention elsewhere."
