KKR & Co has agreed to acquire A1 Garage Door Service, a Phoenix-based residential garage door repair and replacement company, for around $2 billion, people familiar with the matter said. The transaction adds to a broader wave of home-services mergers and acquisitions (M&A), including Oak Hill Capital’s acquisition this year of Guild Garage Group for more than $800 million. Private equity firms have targeted residential-services businesses for their steady cash flows and high valuations in fragmented markets. Founded in 2007 by CEO Tommy Mello, A1 Garage has grown into one of the largest residential garage door service providers in the country and operates in around 20 states. The company received growth capital from Cortec Group in 2022. KKR and Cortec declined to comment, while A1 Garage could not be reached. KKR already has residential-services investments in Neighborly and Groundworks, and Cortec also invests in Groundworks.