Precision Garage Door Service of Tampa Bay
Garage Door · Clearwater, Pinellas County
About the company
The Clearwater-based Precision Garage Door Service franchise covers the greater Tampa Bay area and Lakeland. It was one of three units of a Precision franchisee (Rapp Operations) that Franchise Equity Partners took majority control of in October 2023, alongside Columbus, Ohio and Oklahoma City units, under the new holding company Reliable Residential.
Ownership history
What changed after the sale
Carlos Morales was named president of the three units and Tim Miller, former CFO of TBC Corporation, was appointed non-executive chairman. Reliable Residential subsequently added Orlando and Ocala markets in January 2024.
Only sourced observations are listed. Customers and employees can add what they saw.
Who really profits
Money paid to Precision Garage Door Service of Tampa Bay now flows to Reliable Residential HoldCo (Clearwater, FL), and from there to its investors — Franchise Equity Partners — whose funds are ultimately owed returns by their limited partners. Reliable Residential is the holding company Franchise Equity Partners formed in October 2023 around Rapp Operations, described as the largest franchisee operator within Neighborly. It runs Precision Garage Door Service franchises - initially Clearwater, Columbus and Oklahoma City, then Tulsa, Orlando and Ocala - and aims to consolidate Precision territories across attractive U.S. markets.
Capital events at the platform level: 2023-10-16 recap — Franchise Equity Partners took majority ownership of the three-unit Precision Garage Door franchisee, its eighth deal since inception and first in residential services.; 2024-01-16 debt raise — FEP expanded its investment and Reliable Residential acquired the Orlando and Ocala, Florida Precision markets..
Read more: why prices rise after a sale · debt, exits and the 5-year clock.
Frequently asked
Who owns Precision Garage Door Service of Tampa Bay?
Precision Garage Door Service of Tampa Bay is owned by Reliable Residential HoldCo, a private-equity platform headquartered in Clearwater, FL, whose capital has come from Franchise Equity Partners. The sale was announced October 16, 2023; the company still operates under its original name.
Is Precision Garage Door Service of Tampa Bay private equity owned?
Yes. Precision Garage Door Service of Tampa Bay is part of Reliable Residential HoldCo, which is backed by Franchise Equity Partners. See the buyer profile for the capital structure.
Is Precision Garage Door Service of Tampa Bay locally owned?
Not in the sense most homeowners mean. Control sits with Reliable Residential HoldCo in Clearwater, FL, although the local brand name is still used.
When was Precision Garage Door Service of Tampa Bay sold?
October 16, 2023 (announcement date).
Did Precision Garage Door Service of Tampa Bay change its name after the sale?
No. Keeping the acquired brand name is standard practice for platforms; it preserves customer trust and reviews while ownership changes behind it.
Sources Verified — primary document
- PR Newswire (2023-10-16) — press release. Investment announcement naming Clearwater, Florida market
- Franchise Equity Partners (2023-10-30) — news. Coverage naming Rapp Operations, the three units and leadership
- PR Newswire (2024-01-16) — press release. Follow-on Orlando and Ocala market additions
Researcher notes: The transaction covered a multi-market franchisee; only the Clearwater unit is inside the Tampa Bay region.
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