Monogram Capital Partners, a leading private equity firm based in Los Angeles, has announced a significant addition to its investment portfolio: the acquisition of a majority stake in Precision Door Tri-State (PDS Tri-State). This strategic move marks the first investment from Monogram’s Fund III and underscores the firm’s commitment to partnering with exceptional family-owned businesses within the consumer brand and services sectors. PDS Tri-State, a prominent provider of garage door solutions across New Jersey, New York, and Connecticut, represents Monogram’s targeted approach to investing in resilient, high-growth markets.
Founded in 1999, Precision Door Tri-State has established itself as a market leader under the Neighborly umbrella, specifically within the Precision Door Service franchise system. The company, originally built on the principles of honesty, reliability, and expert service by founders Doug and Dennis Bencsko, has experienced substantial growth across its Tri-State territories. Its reputation for superior customer service and operational excellence has made it a benchmark within both the Neighborly network and the broader home services industry. Doug and Dennis Bencsko will remain invested in the future success of PDS Tri-State as minority partners, ensuring continuity and leveraging their deep industry knowledge.
Jared Stein, Co-Founder and Partner at Monogram Capital Partners, expressed enthusiasm about the new partnership: “Monogram Capital Partners is thrilled to collaborate with PDS Tri-State. Our extensive research within the home services market identified PDS Tri-State as an exemplary company. Doug, Dennis, and Brandon have cultivated a business that delivers essential services, fostering strong customer loyalty and advocacy. We are excited to support PDS Tri-State in their next phase of expansion and to work alongside the Neighborly organization to capitalize on the considerable opportunities ahead.”
Brandon Falone, who has risen through the ranks at PDS Tri-State from technician to President, will assume the role of CEO. Falone commented on the partnership, stating, “Choosing Monogram Capital Partners was a strategic decision driven by their proven success with family-operated businesses and their expertise in scaling multi-unit platforms. Monogram’s operational insights will be invaluable as we build upon Doug and Dennis’s legacy, propelling PDS Tri-State to even greater heights and solidifying our leading market position.”
Monogram Capital Partners is dedicated to fueling PDS Tri-State’s growth trajectory within the Northeast US. The firm intends to support both organic expansion initiatives and strategic acquisitions of synergistic businesses, including like-minded franchisees and independent service providers in the home services sector. Parties interested in exploring partnership opportunities with PDS Tri-State are encouraged to contact Michael Li at [email protected].
Debt financing for the transaction was provided by Tree Line Capital Partners. Monogram Capital Partners received legal counsel from Massumi + Consoli LLP, and Boxwood Partners served as advisors for the transaction.
About Monogram Capital Partners:
Based in Los Angeles, CA, Monogram Capital Partners is a private equity firm with over $935 million in assets under management. The firm focuses exclusively on investments in high-growth consumer brands and services companies. Monogram distinguishes itself through an operational focus, aiming to be the first institutional capital partner for founders, family owners, and strong management teams seeking to realize their companies’ full potential. Monogram typically invests up to $75 million of equity per transaction. For more information, please visit monogramcapital.com.
About Neighborly®:
Neighborly® is recognized as the world’s largest home services company, encompassing over 30 brands and 5,500 franchises operating across six countries. Neighborly’s network has collectively served over 14 million customers, providing a wide array of home and business repair, maintenance, and enhancement services. Consumers can connect with local, vetted service providers through Neighborly.com and the Neighborly mobile app, accessing services across 19 distinct categories. Further details about Neighborly and its franchise concepts can be found at Neighborlybrands.com.
About Precision Door Tri-State:
Precision Door Tri-State, established in 1999 and headquartered in Pompton Plains, NJ, is a leading franchisee within Neighborly’s Precision Door Service brand. The company specializes in garage door replacement, repair, and installation services throughout the Tri-State area. With a long-standing reputation for outstanding customer service and exceptional operational performance, Precision Door Tri-State has achieved significant growth over its 20-year history.
SOURCE Monogram Capital Partners
