Franchise Equity Partners (FEP), a private investment firm committed to forging long-term partnerships with quality franchisees and franchisors, marked a year of significant growth in 2024 with expansion in the home services sector. Through its partnership with Reliable Residential HoldCo (“Reliable Residential”), FEP expanded its footprint by acquiring multiple Precision Garage Door ServiceÔ franchise operations in Orlando, Ocala, and Jacksonville, Florida, as well as Tulsa, Oklahoma, reinforcing its position within the Neighborly® network. In addition, FEP extended its reach into the plumbing sector with Mr. Rooter and broadened its garage door service portfolio with the purchase of Smokey’s Garage Door in Phoenix.
With this rapid growth, Reliable Residential has promoted Carlos Morales to Chief Executive Officer. In his new role, Morales will oversee operations across all brands under Reliable Residential, ensuring seamless integration and operational efficiency as the company scales.
Florida Expansion
In December of 2023, FEP acquired Precision Garage Door Service Ô operations in Orlando and Ocala, Florida, and commenced integration and enhancement in January 2024, adding to Reliable Residential’s existing presence in Clearwater. This expansion positions the brand to meet rising demand in Central Florida, a region experiencing strong population growth and increasing homeowner service needs.
“Our expanded investment in Reliable Residential strengthens our footprint in Florida and aligns with our strategy to support high-performing operators in the home services space,” said Mike Esposito, Co- Founder and Managing Partner of FEP.
Building on this momentum, FEP acquired Precision Garage Door ServiceÔ in Jacksonville in March 2024, further advancing its strategic investment in Florida. Additionally, FEP diversified into the plumbing sector with the acquisition of Mr. RooterÒ franchise operations in Tampa Bay, St. Petersburg, and Lakeland. As a Neighborly brand specializing in full-service plumbing and drain cleaning, Mr. RooterÒ aligns with FEP’s strategy to diversify its portfolio across essential home services. This investment enhances FEP’s presence in Florida and marks its commitment to growing within Neighborly’s extensive network of brands.
Entering Tulsa and Strengthening Midwest Operations
By January 2024, FEP successfully built out and began the expansion of Precision Garage Door ServiceÔ operations in Tulsa, Oklahoma, solidifying its mark in the Midwest. This move complements Reliable Residential’s existing presence in Oklahoma City, allowing the company to deepen market saturation in the state.
“Tulsa is an important market for us as we continue growing our Precision Garage Door ServiceÔ platform,” said Carlos Morales, Chief Executive Officer of Reliable Residential. “FEP’s investment allows us to scale efficiently while maintaining the high level of service our customers expect.”
Growth in the Southwest
FEP continued its expansion in the garage door service industry with the acquisition of Smokey’s Garage Door, a leading independent operator in Phoenix. This marks FEP’s first investment in an independent garage door service provider, complementing its portfolio of home service franchises.
With Smokey’s Garage Door now part of its portfolio, FEP continues to strengthen its role as a major investor in the home services space, reinforcing its long-term commitment to supporting and scaling high- performing brands across the country.
Commitment to Long-Term Growth in Home Services
FEP’s strategic acquisitions reinforce its dedication to strengthening its partnerships with Neighborly® and its industry-leading brands. By investing in high-growth markets and diversifying its service offerings, FEP remains committed to supporting franchise operators and improving service accessibility. In 2025 and beyond, FEP plans to further expand its portfolio, pursuing additional growth opportunities with Neighborly® brands in key markets across the country.
