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01/2021MajorityLBO

Odyssey Investment Partners takes majority stake in Champions Group

UNITED STATES Construction / Finishing Works / HVAC (Heating/AC) REV $250–500M

Context

Alongside a significant ownership reinvestment from founder Leland Smith and the incumbent executive management team, Odyssey Investment Partners has officially acquired Service Champions. Announced on January 6, 2021, the buyout transfers control of the West Coast home services platform to the investment firm. The strategic thesis behind this corporate transaction relies on leveraging the acquirer's institutional resources to scale the target's regional footprint, systematically integrating operational best practices across its portfolio of acquired brand entities, and actively pursuing further organic and acquisition-driven expansion. The new shareholding structure ensures strict operational continuity, with the incumbent Chief Executive Officer continuing to lead the enterprise alongside the existing executive tier. To execute this corporate transaction, the acquiring sponsor mandated Latham & Watkins LLP to serve as legal advisor, while KPMG was retained to provide financial advisory services.

Champions Group, which reported an EBITDA margin of [members only] in 2020, is valued in this transaction at an EV/EBITDA multiple of [members only].

Target

Specialist in residential heating, ventilation, air conditioning, plumbing, and electrical systems, Champions Group coordinates maintenance, repair, and replacement services for homeowners across major metropolitan statistical areas in the United States. Operating from its headquarters in Orange County, California, the organization delivers residential services designed to address recurring home infrastructure requirements. The operating model relies heavily on a recurring membership structure, maintaining an active roster of over 150,000 member households enrolled in preventive maintenance and priority service agreements. Field operations are executed through an internal technical workforce exceeding 1,800 technicians deployed across regional branches to perform scheduled inspections, emergency repairs, and full system replacements. The company concentrates its commercial activities exclusively on the residential repair and replacement segment, purposefully excluding speculative new home construction to insulate operational workflows from broader macroeconomic housing cycles. Service lines encompass HVAC equipment retrofits, electrical panel upgrades, emergency plumbing, and seasonal mechanical tune-ups. Under the operational leadership of Chief Executive Officer Frank DiMarco, the enterprise centralizes administrative scheduling, procurement, and dispatch workflows to support localized field execution.

Ent. Value

[members only]

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (USD)

Year
Rev
EBITDA
EBIT
2020
$250–500M
$50–100M
[members only]
2019
$250–500M
$50–100M
[members only]

Other operations with Champions Group

Other operations with Champions Group
DateAcquirerTargetCountrySector
02/2026BLACKSTONECHAMPIONS GROUPUNITED STATESHVAC (Heating/AC)

Other operations with Odyssey Investment Partners

Other operations with Odyssey Investment Partners
DateAcquirerTargetCountrySector
09/2026ODYSSEY INVESTMENT PARTNERSFALCON GASESUNITED STATESIndustrial & Technical Distribution

Similar deals in Construction

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01/2019AF GRUPPENHMB HOLDINGSWEDENMasonry & Civil Eng.
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REFERENCES

Revenue range: REV $250–500M

EBITDA range: $50–100M

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Champions Group by Odyssey Investment Partners are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: champions group

Acquirer: odyssey investment partners

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Champions Group, an American company specialised in Finishing Works, by Odyssey Investment Partners in 2021, structured as a leveraged buyout (LBO). Ownership has since evolved, leading to a subsequent transaction with Blackstone in February 2026 (see the dedicated deal page for details).

What were Champions Group’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Champions Group generated annual revenue estimated in the $250–500M range and EBITDA in the $50–100M bracket (FY 2020). Detailed financial figures are available to members.

What sources support the information on this transaction?

The details of this transaction are sourced directly from the official corporate announcement published on the parties’ institutional website, ensuring primary-source verification of the closing and perimeter.

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