07:15 ET Monogram Capital Partners' Precision Door Tri-State Acquires Foris Solutions, Creating One of the Largest Operators in the Precision Door Service System

Investment Builds on Monogram's Oversubscribed Fund III and Further Strengthens the Firm's Position in Home Services , /PRNewswire/ -- Precision Door Tri-State ("PDS Tri-State") announced today its acquisition of Foris Solutions ("Foris"), a leading multi-territory Precision Door Service ("PDS") franchisee. The Precision Door system is one of the largest providers of garage repair services in the nation and is a part of the Neighborly broader home services platform owned by KKR. This transaction deepens Monogram Capital Partner's investment in the PDS ecosystem following its May 2024 majority acquisition of Precision Door Tri-State ("PDS Tri-State"), creating one of the largest and most diversified operators in the entire Precision Door Service System. Strategic Combination of Two Best-in-Class Platforms Headquartered in Plymouth, Michigan, Foris Solutions was founded in 2010 and has grown into one of the most advanced and expansive operators in the PDS network, serving territories in Southeast & Mid-Michigan, West Michigan, Indiana, Delaware & Maryland, Austin (TX), and Akron. Founder Steve Freitas will remain a minority shareholder and join PDS Tri-State's Board of Directors and COO Doug Issacson will serve as COO of the unified platform. The combination brings together two of the longest standing Founders within the Precision Door Service System in Doug Bencsko, the first franchisee of Precision Door Service and founder of PDS Tri-State, and Steve Freitas, Founder and Owner of Foris Solutions – whose shared history and trust in the PDS Tri-State platform made the partnership a natural next step. A Partnership Model That Respects Entrepreneurial Roots "We are incredibly proud of the strong value creation and growth that we've already achieved in our investment in PDS Tri-State to date. Given this outstanding execution, we were eager to put more territory under our exceptional management team, which opened the door to our acquisition of Foris," said Jared Stein, Co-Founder and Partner at Monogram Capital. "This investment epitomizes our strategy of working with closely-held family businesses to build out their management teams, professionalize systems and implement best practice to become the consolidator of choice within attractive, high growth, non-discretionary services businesses." "Foris immediately saw the value Monogram added to PDS Tri-State—driving outsized growth since the firm's involvement and strengthening operations across all core metrics in the business, most notably increasing ticket averages and margins," said Steve Freitas, Founder and Owner of Foris Solutions. "Above all, Monogram has demonstrated respect for PDS Tri-State's long heritage and culture, which was of utmost priority in our evaluation of partners and our first exploration with PE owners. That made this combination a natural and exciting next step." A Highly Attractive Platform for Continued M&A The combination brings together two of the strongest operators in the PDS system, creating one of its largest and most diversified multi-territory platforms. Both businesses bring best-in-class performance across key metrics, including sales per single-family home, a high mix of recurring and essential service and repair work, leading ticket averages, and exceptional technician retention and productivity, resulting in a well-balanced, culturally aligned service provider. Under Monogram's ownership, PDS Tri-State has delivered consistent double-digit organic growth in both service and install revenue over the past year, and has applied the PDS Tri-State operating playbook to drive post-closing improvements following its November 2024 acquisition of PDS Cincinnati. The combined management team looks to leverage its success driving both organic and inorganic growth to build upon the strong momentum already underway. Tree Line Capital Partners and PennantPark Investment Advisors provided debt financing for the transaction. Massumi + Consoli LLP served as legal counsel to Monogram. About Monogram Partners Headquartered in Los Angeles, CA, Monogram Capital Partners currently manages approximately $1.75B in RAUM, focusing exclusively on investing in leading consumer businesses, supply chain partners, and service providers. With a collaborative and operationally driven investment approach, Monogram typically serves as the first institutional partner to entrepreneurs and family owners—helping them build sustainable, category-leading businesses. For more information on Monogram Capital Partners, please visit: http://www.monogramcapital.com or follow the firm on LinkedIn. SOURCE Monogram Capital Partners