Blackstone said on 17 February that funds in its perpetual private equity strategy had agreed to acquire Champions Group, a US residential heating, air conditioning, plumbing and electrical services provider, from Odyssey Investment Partners.
Why Blackstone (BXPE) is buying Champions Group
Blackstone said it would build Champions into a multi-service residential platform, bringing essential home services under one operating model delivered locally. The company focuses on repair and replacement work for homeowners in large metropolitan areas, supported by a membership programme.
Deal terms and financing
Terms were not disclosed; Bloomberg reported a value of about $2.5bn, according to the Orange County Business Journal. Odyssey, which bought Champions in 2021, and management retain a significant minority investment.
Regulatory approvals and timing
The transaction was expected to close in the first half of 2026, subject to customary conditions and regulatory approvals. Neither party had announced completion as of October 2026.
Market context
Champions has grown through acquisitions including Bee's Plumbing in Seattle and McAfee Heating and Air Conditioning in Dayton, Ohio. Private equity has been consolidating fragmented US home services businesses, attracted by recurring demand from ageing housing stock.
