Odyssey Investment Partners Acquires Service Champions
NEW YORK, January 6, 2021 -- Odyssey Investment Partners (“Odyssey”) today announced that it has acquired Service Champions, a leading residential HVAC and plumbing services company. Financial terms of the transaction were not disclosed.
Service Champions, founded in 2000, offers a broad suite of essential heating, air conditioning, and plumbing services through several iconic local trade names located on the West Coast, including Service Champions, Moore Home Services, Bell Brothers, ASI, Adeedo! and ProSkill Services. Headquartered in Orange County, California, Service Champions focuses on delivering its customers world-class customer service and has a leading position in nearly all of its core markets in California, Arizona, and Nevada.
Leland Smith, founder and CEO, will continue to lead Service Champions alongside the existing management team. Mr. Smith and several other members of the executive management team will retain a significant ownership position.
Mr. Smith said: "We are enthusiastic about our new partnership with Odyssey, which has a long track record of supporting management teams looking to further expand their businesses. Our team has a lot of runway in front of us to expand our best-in-class customer service and implement operational best practices across all brands in the portfolio. Odyssey understands our business and the opportunities that lie ahead, and is well-positioned to help us build on our accomplishments and reach our full potential."
Dennis Moore, a Managing Principal at Odyssey, said, "Service Champions is a compelling opportunity to build on Odyssey’s successful history of investing in localized service businesses. We are excited to invest in a growing business with attractive opportunities to grow organically and through acquisitions.”
Jonathan Hall, a Principal at Odyssey, added, “Leland and the management team have done an outstanding job of establishing Service Champions as a leading provider of essential home services on the West Coast. We believe the business is uniquely positioned to execute on the underlying market opportunity and we are excited to support the team in achieving their growth objectives.”
Latham & Watkins LLP served as legal advisor to Odyssey, and KPMG served as financial advisor.
About Service Champions
Based in Orange County, CA, Service Champions is a leading provider of essential home services specializing in heating, air conditioning, and plumbing services. Founded in 2000, Service Champions has more than 850 technicians that perform service jobs for residential homeowners. With the mission to maintain long-term relationships with its customers, Service Champions is dedicated to delivering timely, high quality services across a comprehensive suite of HVAC and plumbing products. For more information, please visit www.servicechampions.com.
About Odyssey Investment Partners
Odyssey Investment Partners, with offices in New York and Los Angeles, is a leading private equity investment firm with more than a 25-year history of partnering with skilled managers to transform middle-market companies into more efficient and diversified businesses with strong growth profiles. Odyssey makes majority controlled investments in industries with a long-term positive outlook and favorable secular trends. For further information about Odyssey, please visit www.odysseyinvestment.com.