Garage doors run through a different sales motion than other trades. The builder channel (new construction) trains every homeowner to recognize a handful of brands, and the service channel (repair, spring replacement, opener swap) operates off that brand recognition. A platform that controls the new-build relationship with a regional builder captures ten to fifteen years of downstream service revenue. That is why C.H.I. Overhead Doors sold to Nucor for $3 billion at 13 times EBITDA in 2022 - a trade multiple that re-priced the entire sector.
Then there is the service consolidation. Oak Hill Capital acquired Guild Garage Group in March 2026 for over $800 million at approximately 16 times EBITDA. Precision Door Service (Authority Brands portfolio) runs a franchised national network. Local independents with strong review density and tight route economics are being acquired at 6-9 times EBITDA and rolled into these platforms. The gap between the platform multiple and the tuck-in multiple is the investment thesis.
The operational complexity is in balancing new-construction cycles (builder-dependent, lumpy) against service revenue (steady, high-margin, recession-resistant). Platforms that get the mix wrong either starve through a housing downturn or leave margin on the table in good years.