Key Takeaways
- • Cortec Group sold A1 Garage Door Service to KKR, with the sale executed through its affiliate Cortec Group Fund VII, which had partnered with A1 in December 2022.
- • A1 repairs and replaces garage doors for homeowners using its own employed technicians and installers across 29 geographies.
- • Founder and CEO Tommy Mello will continue to lead the business and retain a significant ownership stake after the transaction.
- • Under Cortec's ownership, A1 expanded through new locations and add-on acquisitions, grew its technician and installer base, built out its management team, centralized technician training, and deployed AI-enabled tools in customer acquisition, call centers and dispatch.
- • Piper Sandler served as lead financial advisor to A1, with William Blair as co-advisor and Paul Hastings as legal counsel.
Summary
Cortec Group has agreed to sell A1 Garage Door Service to KKR, according to the original report. The sale was made through Cortec Group Fund VII, the Cortec affiliate that partnered with A1 in December 2022. A1 provides garage door repair and replacement services to homeowners and relies on its own employed technicians and installers, operating across 29 geographies.
During the Cortec holding period, A1 expanded its footprint through new locations and add-on acquisitions. The company also grew its technician and installer workforce, built out its management group, and centralized technician training. Cortec's investment approach also included the adoption of AI-enabled technology across customer acquisition, call center operations and dispatch functions.
Founder and CEO Tommy Mello will continue to lead the business and will retain a significant ownership stake following the transaction. Doug Kruep, a managing partner at Cortec, said the firm identified an opportunity to help A1 grow both organically and through acquisitions.
Piper Sandler acted as lead financial advisor to A1 on the transaction, with William Blair serving as co-advisor and Paul Hastings as legal counsel. The original report did not disclose the transaction value.
During the Cortec holding period, A1 expanded its footprint through new locations and add-on acquisitions. The company also grew its technician and installer workforce, built out its management group, and centralized technician training. Cortec's investment approach also included the adoption of AI-enabled technology across customer acquisition, call center operations and dispatch functions.
Founder and CEO Tommy Mello will continue to lead the business and will retain a significant ownership stake following the transaction. Doug Kruep, a managing partner at Cortec, said the firm identified an opportunity to help A1 grow both organically and through acquisitions.
Piper Sandler acted as lead financial advisor to A1 on the transaction, with William Blair serving as co-advisor and Paul Hastings as legal counsel. The original report did not disclose the transaction value.
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