Precision Door Tri-State Enhances Service Reach with Foris Solutions Acquisition

Expansion in the Precision Door Service Sector

Precision Door Tri-State (PDS Tri-State) has recently made headlines with its strategic acquisition of Foris Solutions, one of the leading multi-territory franchises within the Precision Door Service (PDS) system. The announcement came from Los Angeles-based Monogram Capital Partners, and it marks a significant expansion in the company’s operational capabilities in an industry known for its robust growth potential.

A Stronger Combined Entity

This acquisition unites PDS Tri-State, which is known for its exceptional garage repair services, with Foris Solutions, a highly regarded player established in 2010 in Plymouth, Michigan. Operating across several key territories including Southeast Mid-Michigan, West Michigan, Indiana, Delaware, Maryland, Austin (TX), and Akron, Foris brings extensive experience and a solid customer base to the table. Monogram Capital Partners has been pushing forward its investment strategy within the PDS ecosystem by previously acquiring PDS Tri-State in May 2024, positioning them as one of the largest and most diversified operators in the garage service sector.

Steve Freitas, the founder of Foris Solutions, will maintain a minority stake in the new company while also joining PDS Tri-State's Board of Directors, ensuring that the foundational ethos of Foris is preserved within the larger organizational framework. Doug Issacson, the current COO of Foris, will step into the same role at the newly combined entity, reflecting a shared commitment to operational excellence.

Historical Trust and Collaboration

The synergy between Freitas and Doug Bencsko, the founder of PDS Tri-State and the first franchisee of Precision Door Service, has been a vital aspect of this merger. Their long-standing relationship built on mutual trust makes this collaboration a logical next step as both parties seek to enhance service delivery in the garage repair market.

Jared Stein, Co-Founder and Partner at Monogram Capital, articulated their excitement around this acquisition, stating, "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."

By working closely with family-owned businesses like Foris, Monogram aims to professionalize systems and foster best practices to elevate these services in the highly competitive sector.

Demonstrating Respect for Legacy

An essential element in the merger discussions was Monogram's respect for the legacy and culture of PDS Tri-State. Freitas highlighted, "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 business metrics. Monogram has demonstrated respect for our long-standing heritage, which was a priority in our evaluation of partners."

A Promising Future

The combination of PDS Tri-State and Foris Solutions is set to create one of the largest multi-territory platforms within the PDS system, enhancing their ability to deliver excellent service while maintaining outstanding metrics, such as high ticket averages and strong technician retention. The management team is keen on leveraging previous successes to build momentum and drive both organic and inorganic growth strategies.

This merger isn't simply about scale; it’s about enhancing service quality in garage repair operations—a necessity for homeowners across the nation. The partnership aims to provide a balanced, culturally aligned service provider that meets the increasing demand for reliable garage services.

Under Monogram Capital's stewardship, PDS Tri-State has experienced solid double-digit growth within the past year, reflecting a promising future trajectory. Financial maneuvers to support this acquisition were facilitated by Tree Line Capital Partners and PennantPark Investment Advisors, showcasing confidence from the financial community in the combined entity’s prospective impact on the market.

In summary, the acquisition of Foris Solutions by Precision Door Tri-State represents a significant strategic move that not only enhances operational capabilities but also positions the business for sustained growth in the increasingly essential home services landscape. As the collaboration progresses, its success will undoubtedly be watched closely within the industry.