Blackstone Announces Agreement to Acquire Champions Group
Blackstone Inc. (BX)
Last blackstone inc. earnings: 4/23 06:56 am
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Source: Business Wire
NEW YORK--(BUSINESS WIRE)--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
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