Key facts
- KKR & Co is set to acquire A1 Garage Door Service for approximately $2 billion.
- A1 Garage Door Service is a residential garage door repair and replacement company.
- The acquisition aligns with a trend of private equity firms acquiring home services companies.
- A1 Garage Door Service was founded in 2007 and operates in about 20 states.
- Cortec Group provided growth capital to A1 Garage Door Service in 2022.
Investment firm KKR & Co has agreed to acquire A1 Garage Door Service, a company specializing in residential garage door repair and replacement, for approximately $2 billion, according to sources familiar with the matter. This deal is part of a broader trend of private equity firms acquiring home services companies, attracted by their stable cash flows and strong valuations in fragmented markets.
A1 Garage Door Service, based in Phoenix, Arizona, was founded in 2007 by CEO Tommy Mello. The company has grown to become one of the largest residential garage door service providers in the United States, operating across approximately 20 states. In 2022, A1 Garage Door Service received growth capital from private equity firm Cortec Group.
KKR has existing experience in the residential services sector, holding investments in Neighborly, a large franchiser of home service brands, and Groundworks, which focuses on foundation and water management services. Cortec Group is also an investor in Groundworks. KKR and Cortec declined to comment on the transaction, and A1 Garage Door Service could not be reached for comment.