Private investment firm strengthens position in the home services sector with key acquisitions across multiple markets
NEW YORK, March 4, 2025 -- Franchise Equity Partners (FEP), a private investment firm committed to forging long-term partnerships with quality franchisees and franchisors, marked a year of significant growth in 2024 with expansion in the home services sector. Through its partnership with Reliable Residential HoldCo ("Reliable Residential"), FEP expanded its footprint by acquiring multiple Precision Garage Door ServiceÔ franchise operations in Orlando, Ocala, and Jacksonville, Florida, as well as Tulsa, Oklahoma, reinforcing its position within the Neighborly® network. In addition, FEP extended its reach into the plumbing sector with Mr. Rooter and broadened its garage door service portfolio with the purchase of Smokey's Garage Door in Phoenix.
With this rapid growth, Reliable Residential has promoted Carlos Morales to Chief Executive Officer. In his new role, Morales will oversee operations across all brands under Reliable Residential, ensuring seamless integration and operational efficiency as the company scales.
Florida Expansion
In December of 2023, FEP acquired Precision Garage Door Service Ô operations in Orlando and Ocala, Florida, and commenced integration and enhancement in January 2024, adding to Reliable Residential's existing presence in Clearwater. This expansion positions the brand to meet rising demand in Central Florida, a region experiencing strong population growth and increasing homeowner service needs.
"Our expanded investment in Reliable Residential strengthens our footprint in Florida and aligns with our strategy to support high-performing operators in the home services space," said Mike Esposito, Co- Founder and Managing Partner of FEP.
Building on this momentum, FEP acquired Precision Garage Door ServiceÔ in Jacksonville in March 2024, further advancing its strategic investment in Florida. Additionally, FEP diversified into the plumbing sector with the acquisition of Mr. RooterÒ franchise operations in Tampa Bay, St. Petersburg, and Lakeland. As a Neighborly brand specializing in full-service plumbing and drain cleaning, Mr. RooterÒ aligns with FEP's strategy to diversify its portfolio across essential home services. This investment enhances FEP's presence in Florida and marks its commitment to growing within Neighborly's extensive network of brands.
Entering Tulsa and Strengthening Midwest Operations
By January 2024, FEP successfully built out and began the expansion of Precision Garage Door ServiceÔ operations in Tulsa, Oklahoma, solidifying its mark in the Midwest. This move complements Reliable Residential's existing presence in Oklahoma City, allowing the company to deepen market saturation in the state.
"Tulsa is an important market for us as we continue growing our Precision Garage Door ServiceÔ platform," said Carlos Morales, Chief Executive Officer of Reliable Residential. "FEP's investment allows us to scale efficiently while maintaining the high level of service our customers expect."
Growth in the Southwest
FEP continued its expansion in the garage door service industry with the acquisition of Smokey's Garage Door, a leading independent operator in Phoenix. This marks FEP's first investment in an independent garage door service provider, complementing its portfolio of home service franchises.
With Smokey's Garage Door now part of its portfolio, FEP continues to strengthen its role as a major investor in the home services space, reinforcing its long-term commitment to supporting and scaling high- performing brands across the country.
Commitment to Long-Term Growth in Home Services
FEP's strategic acquisitions reinforce its dedication to strengthening its partnerships with Neighborly® and its industry-leading brands. By investing in high-growth markets and diversifying its service offerings, FEP remains committed to supporting franchise operators and improving service accessibility. In 2025 and beyond, FEP plans to further expand its portfolio, pursuing additional growth opportunities with Neighborly® brands in key markets across the country.
For more information about Franchise Equity Partners, please visit https://www.fep-us.com/.
About Franchise Equity Partners:
Franchise Equity Partners is a private investment firm specializing in providing capital to franchise businesses and their owners. Its differentiated approach combines extensive corporate finance and operating experience with an initial target portfolio size of $1 billion to enable growth, ownership simplification, succession, and estate planning, among other strategic business opportunities. To learn more about Franchise Equity Partners, please visit www.fep-us.com or follow the firm on LinkedIn.
About Mr. Rooter® Plumbing:
Mr. Rooter®, a Neighborly® company, is a full-service plumbing and drain cleaning franchise with more than 240 franchises worldwide. Established in 1970, Mr. Rooter® franchisees provide services to both residential and commercial customers. Acquired in 1990, Mr. Rooter® is part of Neighborly®, the world's largest home services company with more than 30 brands and 5,000 franchises collectively serving 12 million+ customers in six countries, focused on repairing, maintaining and enhancing homes and businesses. For more information about Mr. Rooter®, visit MrRooter.com.
About Precision Garage Door Service™:
Precision Garage Door Service™, a Neighborly® company, is the nation's leading residential garage door repair company. Precision Garage Door Service™ provides consumers the highest levels of customer service and value for all garage door needs, specializing in garage door repair, new garage door installment, and repair of garage door openers from more than 100 locations in the U.S. Acquired in 2020, Precision Garage Door Service™ is part of Neighborly®, the world's largest home services company with more than 30 brands and 5,000 franchises collectively serving 12 million+ customers in six countries, focused on repairing, maintaining, and enhancing homes and businesses. Neighborly® brands are found at Neighborly.com and through the Neighborly App. For more information about Precision Garage Door Service™, visit PrecisionDoor.net. To learn about franchising opportunities with Neighborly®, click here.
About Neighborly:
Neighborly® is the world's largest home services company with more than 30 brands and 5,000 franchises collectively serving 12 million+ customers in six countries, focused on repairing, maintaining, and enhancing homes and businesses. Through the Neighborly mobile app, Neighborly connects consumers to local service providers that meet rigorous franchisor standards across 18 service categories. More information about Neighborly®, and its franchise concepts, is available at Neighborlybrands.com. To learn about franchising opportunities with Neighborly®, click here.
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