Feb. 6, 2024
Main Post Invests Into One Of The Largest Neighborly® Franchisee Operators
WOODINVILLE, Wash., Feb. 6, 2024 /PRNewswire/ -- Highland Arms Enterprises ("HAE" or the "Company"), one of the largest franchisee operators within Neighborly®, has taken on a strategic growth investment from Main Post Partners ("Main Post"), a leading private equity investment firm with deep experience partnering with multi-location consumer service platforms.
Founded in 2003 by Kevin Spratt, HAE has grown both organically and through acquisitions into one of the largest franchisee operators within the Precision Garage Door Service™ ("Precision") system, operating in 11 markets across Washington, California, Utah, Idaho, and Nevada. The Company has completed two acquisitions over the last four months and, with its new partnership, is actively looking to invest further into additional Precision franchise locations and additional Neighborly brands.
"We are thrilled about our partnership with Main Post. Main Post was the clear choice in a partner due to their expertise in consumer services and successful track record of scaling franchise platforms. Their partnership approach and enthusiasm for scaling best-in-class brands set them apart from other groups. I am confident that, with Main Post, HAE is in an excellent position to seize the numerous growth opportunities ahead," said Kevin Spratt, CEO of Highland Arms Enterprises.
Kevin will remain actively involved in the Company and is currently on the Franchise Advisory Committee for Precision Garage Door Service. The existing management team will continue to lead HAE, including Ashley Owen as President.
"We are very excited to partner with the teams at HAE, Precision Garage Door Service and Neighborly, who have built industry leaders in both garage door repair and within home services. We see a substantial opportunity to support the team to build a premier operating platform within residential services as they accelerate their growth within the Neighborly system," said Aaron Garcia, Partner at Main Post.
With more than 100 locations nationwide, Precision Garage Door Service is the leading residential garage door service franchise. Since being acquired by Neighborly in late 2020, Precision has grown considerably under its ownership. Precision has developed a competitive advantage through its commitment to best-in-class service, superior lead generation, and differentiated labor model.
"This new partnership, along with the investment by Main Post in HAE, validates the strength and growth opportunities of the brand," said Mike Brickner, President of Precision Garage Door Service. "We are fortunate to have owners like Kevin Spratt, who have played a fundamental role with the brand for many years, now carry that to new heights with the support of the team at Main Post."
Jon Shell, the interim Chief Executive Officer at Neighborly, expressed anticipation for the enhanced collaboration with HAE to bolster the growth of Precision Garage Door Service in new and existing markets. He highlighted the significance of the partnership to the growth potential in the residential services market, the robustness of the company's home service brands, and the overall strength of the Neighborly system, acknowledged by discerning investors like Main Post.
Main Post looks forward to continuing to expand its partnership with Neighborly and building a leading multi-brand residential services platform. HAE is actively seeking to acquire other Precision franchises as well as franchises of other Neighborly brands along the West Coast.