News

Jan 2023

Audax Private Debt Provides Financing to Support Cortec Group's Investment in A1 Garage Door Service

Audax Private Debt (“Audax”), based in New York, announced today that, as Administrative Agent and Joint Lead Arranger, it provided a senior secured credit facility to support Cortec Group Fund VII, L.P., an affiliate of Cortec Group (“Cortec”), in its growth capital investment in A1 Garage Door Service Holdings, Inc. (“A1” or the “Company”) in partnership with A1’s CEO and management.

Headquartered in Phoenix, Arizona and serving 25 markets across the U.S., A1 is a market leader in the direct-to-consumer residential repair and replacement garage door services industry. The Company has grown rapidly, both organically and through acquisitions, since its founding in 2007. Today, A1 is one of the largest and most reputable residential garage door service providers in the country.

“A1 has established itself as a leading residential services platform,” said Dan Horan, Managing Director at Audax Private Debt. “The Company’s management has driven impressive growth, adding more than 20 greenfield locations and completing several acquisitions in the past five years, while maintaining the highest standards of customer service. Given their deep experience in residential and consumer services, Cortec is the perfect partner to guide the Company through its next stage of growth.”

“We are excited to partner with Audax Private Debt on this investment,” said Will Keesler, Managing Director at Cortec. “Audax has been a knowledgeable and collaborative financing partner throughout the process. We are looking forward to working alongside the Audax team as the Company continues to expand its footprint and deliver best-in-class services to customers nationwide.”

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