Service Net Acquires Equiguard Inc.
Service Net Warranty, LLC, a leading administrator of service warranty programs based in Jeffersonville, Indiana, announced that it has entered into a court-approved agreement to acquire the assets of Equiguard, Inc., a leader in providing extended warranty programs to the Heating, Ventilation and Air-conditioning industry.
Equiguard, based in Westmont, Illinois, was co-founded by Craig Funke in 1989 and has grown to be the premier provider of extended warranty plans for OEM’s, distributors and dealers in the HVAC industry. Funke, president and CEO of Equiguard, states, “As a Service Net Company, Equiguard will be strategically positioned to offer a greater level of service to existing and new clients. Additionally, the new business platform and expanded service levels will enable our clients to continue to focus on their core business and can leverage Equiguard to provide an array of value added service products and programs”.
Kevin Callahan, CEO of Service Net, commented, “We are very excited about the acquisition of Equiguard as it allows us to leverage our existing infrastructure and enter an industry that has significant growth potential. The Equiguard management team has a strong marketing and sales presence and is well positioned in the HVAC industry. The combination of Equiguard’s strong industry presence and Service Net’s core operating platform will position us as the premiere leader in the HVAC services industry.”
Service Net Warranty, LLC, based in Jeffersonville, Indiana and owned by H.I.G. Capital, was founded in 1996 by Lansdon Robbins and other former executives from General Electric’s consumer service and appliance divisions. Service Net offers its clients a comprehensive suite of service and extended warranty programs for a variety of consumer products, primarily focusing on major appliances, consumer electronics, personal computers and heating and ventilation equipment. The Company uniquely focuses on a blue chip base of OEM’s and retailers who utilize extended warranty and value added service programs as a means to build consumer and brand loyalty.