Blackstone to Acquire Champions Group Residential Services Platform
Key Highlights
- Blackstone will acquire Champions Group from Odyssey Investment Partners, with the deal expected to close in the first half of 2026.
- The transaction includes a significant minority stake retained by Odyssey and Champions' management team.
- Champions Group employs over 1,800 technicians and serves approximately 150,000 members across major metro areas.
NEW YORK — Blackstone announced it has entered into a definitive agreement to acquire Champions Group, a residential services platform specializing in HVAC, plumbing, and electrical services.
According to Blackstone, funds managed by its perpetual private equity strategy will acquire Champions Group from Odyssey Investment Partners. Odyssey and Champions Group’s management team will retain a significant minority investment. Terms of the transaction were not disclosed.
The transaction is expected to close in the first half of 2026, subject to customary conditions.
Champions Group operates across tier one metropolitan statistical areas and serves the residential repair and replacement market. The company employs more than 1,800 field technicians and supports approximately 150,000 active members through its membership-based service model.
Frank DiMarco, CEO of Champions Group, said the partnership is intended to support the company’s next phase of growth. He noted that prior backing from Odyssey enabled the company to expand through organic initiatives and strategic acquisitions while empowering local leadership teams.
Michael Staub, senior managing director at Blackstone, and Maury Bardovi, managing director at Blackstone, said the firm plans to continue building Champions Group as a multi-service residential services platform. They cited opportunities to bring essential services together under a single operating model focused on quality, reliability, and local delivery.
Brian Kwait, CEO of Odyssey, and Dennis Moore, managing principal of Odyssey, said the firm will remain invested alongside Blackstone as Champions Group continues to expand its platform.
Blackstone is an alternative asset manager with approximately $1.3 trillion in assets under management across real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries, and hedge funds. Champions Group is headquartered in Orange County, California, and focuses on residential heating, air conditioning, plumbing, and electrical services.
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