Platform formationverified
Franchise Equity Partners takes majority of Precision Garage Door franchisee incl. Clearwater
What happened. Franchise Equity Partners took majority ownership of Rapp Operations, a three-unit Precision Garage Door Service franchisee covering Clearwater, Columbus and Oklahoma City, and rebranded the holding company Reliable Residential HoldCo. It was FEP's eighth deal since its November 2021 inception and its first in residential services and first majority franchising transaction. Carlos Morales was named president and Tim Miller non-executive chairman. Neighborly, which acquired the Precision Door Service brand in 2020, endorsed the operator. Reliable added Tulsa and, in January 2024, the Orlando and Ocala markets.
Parties
- Company
- Precision Garage Door Service of Tampa Bay · Clearwater, Pinellas County
- Buyer
- Reliable Residential HoldCo
- Capital
- Franchise Equity Partners
- Price
- Not disclosed
The name on the truckPrecision Garage Door Service of Tampa Bay
Clearwater, Pinellas County
Operating ownerReliable Residential HoldCo
Clearwater, FL
Capital behind it
What this kind of deal tends to mean for customers and staff: pricing · sales pressure · technicians · the exit clock.
Sources Verified — primary document
- PR Newswire (2023-10-16) — press release. Investment announcement naming Clearwater
- Franchise Equity Partners (2023-10-30) — news. Majority ownership, units, leadership
Researcher notes: Classified as platform formation because FEP created Reliable Residential as a new franchisee consolidation platform; only the Clearwater unit is inside the Tampa Bay region.
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