KKR Acquires A1 Garage Door for $2 Billion to Expand Home Services Portfolio
Private equity firm KKR has agreed to acquire Phoenix-based residential garage door service provider, A1 Garage Door Service, in a deal valued at approximately $2 billion. Founded by CEO Tommy Mello and operating across roughly 20 states, the company had previously received growth capital from Cortec Group in 2022. The acquisition is part of an ongoing trend of consolidation within home services, following similar high-profile deals such as Oak Hill Capital's purchase of Guild Garage Group earlier this year. Valuations for garage door and overhead access platforms have reached historic levels, with multiples ranging between 12 to 16 times EBITDA in 2026. This is driven by the non-discretionary nature of repair demand and attractive margins of around 18% to 22%. The deal builds on KKR's existing residential services investments, including Neighborly (acquired in 2021) and Groundworks (invested in 2023), further solidifying its position in the home service sector.
Tickers: $KKR
Topics: acquisition home services private equity residential repair