Blackstone announced that funds managed by its perpetual private equity strategy BXPE have entered into a definitive agreement to acquire Champions Group, a residential services platform, from Odyssey Investment Partners. Odyssey and the company’s management team will retain a significant minority investment alongside Blackstone. Financial terms of the transaction were not disclosed. The deal is expected to close in the first half of 2026, subject to customary closing conditions.
Champions Group operates as a scaled, integrated residential services platform focused on essential home repair and replacement services. The company serves tier-one MSAs, with more than 1,800 field technicians and approximately 150,000 active members. Its model is anchored by a membership-based approach and a focus on delivering consistent, high-quality service to its customer base.
Headquartered in Orange County, California, Champions Group provides heating, air conditioning, plumbing, and electrical services. The company has expanded through a combination of organic growth initiatives and strategic acquisitions, positioning itself as a multi-service provider across key metropolitan markets.
Blackstone said the acquisition aligns with its strategy of investing in companies that deliver essential services and have opportunities to scale through operational expertise and long-term capital support. Odyssey, which has backed Champions Group over the past five years, will continue to support the business as a minority investor.
Blackstone manages approximately $1.3 trillion in assets under management across investment strategies spanning real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries, and hedge funds.
Support: Advisors on the transaction included Weil as legal advisor to Blackstone. William Blair served as lead financial advisor to Champions Group and Odyssey, with Piper Sandler and Baird acting as co-financial advisors. Latham & Watkins LLP served as legal counsel to Odyssey.
KEY QUOTES:
“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.”
Frank DiMarco, CEO of Champions Group
“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.”
Michael Staub, Senior Managing Director at Blackstone, and Maury Bardovi, Managing Director at Blackstone
“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.”
Brian Kwait, Chief Executive Officer of Odyssey, and Dennis Moore, Managing Principal of Odyssey
