Blackstone (NYSE:BX) announced today that funds managed by Blackstone's perpetual private equity strategy (BXPE) ("Blackstone") have entered into a definitive agreement to acquire Champions Group, a premier provider of essential home services, from Odyssey Investment Partners, LLC ("Odyssey"). Odyssey and management are retaining a significant minority investment alongside Blackstone.
Champions Group is a leading residential services platform providing essential home services to the residential repair and replacement market. The Company operates a scaled, integrated model across tier one MSAs with over 1,800 field technicians and 150,000 active members. Champions Group has built a differentiated go-to-market approach anchored by its membership model and longstanding commitment to delivering top-tier service to its loyal customer base.
Frank DiMarco, CEO of Champions Group, said: "Partnering with Blackstone marks a defining next chapter for Champions Group. With Odyssey's backing, we built one of the premier home services companies by empowering local leaders, investing in great teams, and earning customer trust. As we enter our next phase, we believe Blackstone's resources and expertise will help us accelerate growth, strengthen our market leadership, and continue raising the bar for the home services industry."
Michael Staub, Senior Managing Director, and Maury Bardovi, Managing Director at Blackstone, said: "We are thrilled to partner with Frank DiMarco and Odyssey as we continue to build Champions Group into a multi-service residential services platform. By bringing together best-in-class essential services under one umbrella, we have an opportunity to redefine what homeowners expect from a residential services provider—exceptional quality, reliability, and scale, all delivered locally. This partnership positions Champions Group to set a new standard for the industry and create long-term value for customers, employees, and the communities it serves."
Brian Kwait, Chief Executive Officer, and Dennis Moore, Managing Principal of Odyssey, said, "We are excited to partner with Blackstone in the next chapter of growth for Champions Group. Over the past five years, we have had the honor of collaborating with Frank DiMarco and his outstanding team to successfully build Champions Group into a larger and more diverse home services company through a range of value generating organic growth initiatives and several strategic acquisitions. We are grateful for their outstanding leadership and look forward to continuing to provide our support to Champions Group as they further expand an outstanding platform to serve customers at the highest level, with the added benefit of Blackstone's strategic and financial resources."
Terms of the transaction were not disclosed. The transaction is expected to close in the first half of 2026, subject to customary conditions.
Weil served as a legal advisor to Blackstone. William Blair is serving as lead financial advisor to Champions Group and Odyssey, with Piper Sandler and Baird as co-financial advisors. Latham & Watkins LLP is serving as legal counsel to Odyssey.
About Blackstone
Blackstone is the world's largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone's $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.
About Champions Group
Based in Orange County, CA, Champions Group is a leading provider of essential home services specializing in heating, air conditioning, plumbing and electrical services. With the mission to maintain long-term relationships with its customers, Champions Group is dedicated to delivering timely, high-quality services across a comprehensive suite of HVAC, electrical and plumbing products.
About Odyssey Investment Partners
Odyssey Investment Partners is a leading private equity investment firm with more than a 25-year history of partnering with skilled managers and using its buy, build and integrate approach to transform middle-market companies into more efficient and diversified businesses with strong growth profiles. Odyssey makes majority-controlled investments in industrial and business services sectors with a long-term positive outlook and favorable secular trends. For further information about Odyssey, please visit www.odysseyinvestment.com.
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Media Contacts
Blackstone
Hallie Dewey
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Odyssey
Mark Semer / Grace Cartwright
Gasthalter & Co.
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