Champions Group joins Blackstone portfolio through $2.5B acquisition

Blackstone has agreed to acquire Champions Group from Odyssey Investment Partners in a $2.5 billion transaction, aiming to strengthen its presence in the U.S. residential services market. The deal will retain Odyssey and Champions’ leadership as minority stakeholders, according to Private Equity Insights.

Strategic move into residential services

The Champions Group acquisition marks a significant step for Blackstone into the home services sector, which includes essential maintenance for HVAC, plumbing, and electrical systems. The company operates across several U.S. regions, employing a large network of field technicians and serving tens of thousands of homeowners through recurring service contracts.

Blackstone sees the acquisition as an opportunity to invest in a stable, high-demand market that generates predictable cash flows. By leveraging Champions’ operational model and established client base, the firm aims to enhance both scale and service quality.

Champions’ CEO, Frank DiMarco, described the transaction as a pivotal moment for the company, noting that Blackstone’s backing provides resources to expand offerings while maintaining customer satisfaction. Blackstone executives emphasized that this move aligns with their strategy of acquiring resilient, service-oriented businesses with growth potential.

Transaction details as Champions joins the Blackstone portfolio

The $2.5 billion transaction is structured to allow Odyssey Investment Partners and Champions’ current management to remain minority investors. This setup ensures continuity of operations and aligns incentives for the leadership team during the transition.

The deal’s valuation reflects a strong appetite among investors for companies offering recurring revenue streams, particularly those less sensitive to economic cycles. Analysts suggest that this purchase highlights growing private equity interest in essential service sectors, where demand remains relatively steady even in challenging markets.

Advisors on the transaction included William Blair for Champions and Odyssey, with Piper Sandler and Baird assisting as co-financial advisors. Legal counsel was provided by Weil for Blackstone and Latham & Watkins for Odyssey.

Residential services growth and Blackstone portfolio strategy

Champions Group has grown through acquisitions of regional service providers, building a diversified footprint in the competitive home maintenance sector. Its business model emphasizes recurring revenue, long-term client contracts, and operational efficiency, characteristics that appeal to private equity investors.

The residential services industry has seen increasing interest from investment firms because its offerings are considered essential and recession-resilient. As homeownership continues to drive demand for repair and maintenance services, companies like Champions are attractive for their consistent cash flow and growth potential.

Blackstone’s acquisition fits within a broader trend of private equity firms investing in service-based businesses that combine operational scale with defensive qualities, reducing exposure to market volatility while providing opportunities for strategic expansion.

Blackstone’s purchase of Champions Group strengthens its portfolio in the U.S. home services market while maintaining continuity through existing management and Odyssey’s minority stake. The deal demonstrates the appeal of stable, recurring-revenue businesses to private equity investors and signals further interest in resilient, growth-oriented service sectors.