Northrim Horizon acquires Seattle’s Cressy Door and Fireplace, putting permanent capital into Pacific Northwest garage doors

Northrim Horizon announced October 13 that it has acquired Cressy Door and Fireplace, a Seattle-based provider of installation, repair and maintenance services for overhead doors, pedestrian doors and fireplaces for commercial and residential customers. Terms were not disclosed.

Northrim appointed Brendon Cagney as CEO and Connor Witters as President. Cagney joins from McKinsey & Company. He holds an MBA from Harvard Business School, served six years in the U.S. Army as an engineer officer, and also holds a Master's in Engineering Management and a Bachelor's in Systems Engineering. Witters has been at Cressy for more than eighteen years in technical, sales and leadership roles.

The asset.

Cressy installs, repairs and maintains overhead doors, pedestrian doors and fireplaces for commercial and residential customers. Managing Partner Brad Gulbrandsen said the company has been a fixture in the Seattle area for nearly seventy-five years. Cressy's website lists showrooms in Seattle (Shoreline) and Kent, Washington, and describes service across the Pacific Northwest, including Alaska.

The platform.

Northrim Horizon is a Mesa, Arizona permanent capital investment firm that acquires and operates profitable service and software businesses and builds value by reinvesting earnings into people, processes and technology. Its website says it intends to own its businesses indefinitely and lists more than $575 million of assets under management and more than 75 completed transactions. Companies named on the site include Genesis Landscape Solutions, Budget Brothers Termite & Pest and Horizon Commercial Pools, so Cressy adds doors and fireplaces to a group that already includes other field service businesses.

Gulbrandsen said Northrim will support Cressy in expanding its customer base and geographic presence, and the release says the company is actively pursuing new industry partnerships and expansion into new geographies.

Permanent capital in garage doors.

Garage doors have drawn several kinds of buyers this year. Reuters reported KKR's roughly $2 billion deal for A1 Garage Door Service, CID Capital launched a Southwest platform on Tucson's Kaiser, Sterling-backed OGD closed three add-ons, Galaxy Service Partners added Wisconsin's Central Door Solutions, and Banko Overhead Doors moved into Charleston.

Northrim adds a permanent-capital owner to that list, with no fixed fund hold period. Principal Crawford Gates said that as Cressy's industry consolidates, Northrim's permanent hold model will help Cressy and future partners retain talent, preserve culture, maintain service standards and think long-term.

What it means.

For overhead door, pedestrian door and fireplace businesses in the Pacific Northwest, Cressy is now a named platform with new leadership and a stated plan to add partners and enter new markets. For door owners generally, a buyer that plans to hold indefinitely is now bidding alongside fund-backed platforms and large sponsors, which gives sellers who care about long-term ownership of their team and brand another option to compare.