Precision Door Tri-State, a multi-territory franchisee in the Precision Door Service system, has acquired Foris Solutions in a deal backed by Monogram Capital Partners that will create one of the largest and most diversified operators within the national Precision Door Service network.
The acquisition expands Monogram’s investment in the Precision Door ecosystem following its May 2024 majority acquisition of Precision Door Tri-State. Precision Door Service is one of the largest providers of garage repair services in the U.S. and operates within the Neighborly home services platform owned by KKR.
Foris Solutions, headquartered in Plymouth, Michigan, was founded in 2010 and operates multiple Precision Door Service territories across Southeast and Mid Michigan, West Michigan, Indiana, Delaware and Maryland, Austin, and Akron. Following the transaction, Foris founder Steve Freitas will remain a minority shareholder and will join Precision Door Tri-State’s board. Foris COO Doug Issacson will serve as COO of the combined platform.
The combination brings together two long-tenured operators in the Precision Door Service system: Doug Bencsko, founder of Precision Door Tri-State and often described as the first franchisee of Precision Door Service, and Freitas, founder and owner of Foris. The companies said their shared history within the franchise network and alignment on culture and operating approach supported the decision to partner.
Monogram said the deal reflects its strategy of partnering with closely held, family-run businesses, expanding management teams, professionalizing systems, and implementing best practices to build scalable platforms in non-discretionary, high-growth service categories. The firm said it intends to continue expanding the combined business through both organic growth and additional acquisitions.
Monogram said Precision Door Tri-State has delivered consistent double-digit organic growth in service and install revenue over the past year and has applied its operating playbook following its November 2024 acquisition of Precision Door Service Cincinnati.
Tree Line Capital Partners and PennantPark Investment Advisors provided debt financing for the transaction. Massumi + Consoli LLP served as legal counsel to Monogram.
Monogram Capital Partners is based in Los Angeles and said it manages approximately $1.75 billion in RAUM, focusing on consumer businesses, supply chain partners, and service providers.
KEY QUOTES
“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,”
“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.”
Jared Stein, Co-Founder and Partner, Monogram Capital Partners
“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.”
“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.”
Steve Freitas, Founder and Owner, Foris Solutions
