DALLAS–(BUSINESS WIRE)–CenterOak Partners LLC (“CenterOak”), a Dallas-based private equity
firm, today announced that it has completed a majority investment in
Service Champions (“Company”) in combination with existing platform
investment Moore Home Services, forming the leading provider of home
maintenance and repair services across Southern and Northern California.
Chief Executive Officer Leland Smith will maintain a significant
ownership stake in the company and will lead the newly combined Company
following CenterOak’s investment. Terms of the transaction were not
disclosed.
The merger of Service Champions and Moore Home Services creates one of
the largest residential HVAC contractors on the West Coast. Service
offerings include residential heating and air conditioning repair and
replacement, plumbing, solar and electrical services. The companies have
developed a loyal customer base of over 21,000 active club members by
offering unparalleled professional service from its highly trained
service technicians. The Company is headquartered in Orange County,
California.
“We are excited to partner with Leland and his team of industry veterans
who are poised to lead the newly combined business in its next phase of
growth,” said Randall Fojtasek, Managing Partner of CenterOak. “The
combination of Service Champions and Moore Home Services offers a
compelling opportunity to form the leading provider of 100% maintenance
and repair services in a large and fragmented market. The Company is
well positioned to continue its growth trajectory and we look forward to
helping the Company continue to execute on their growth strategies both
organically and with strategic acquisitions.”
“We are pleased to partner with the team at CenterOak, who share our
commitment to professional customer service,” said Leland Smith, Chief
Executive Officer of Service Champions and of the newly combined entity.
“CenterOak’s experience and track record stood out to us and we believe
their strategic approach can help grow our residential service offerings
and footprint. CenterOak brings the resources and capital to support our
next chapter of organic growth and to make strategic acquisitions.”
Greenberg Glusker Fields Claman & Machtinger LLP served as legal counsel
to Service Champions. Gibson, Dunn & Crutcher LLP served as counsel to
CenterOak.
About Service Champions
Headquartered in Orange County, CA,
Service Champions is a provider of essential residential service and
replacement services including air conditioning repair and replacement,
plumbing, solar and electrical services. Service Champions and Moore
Home Services serve over 21,000 customers providing non-discretionary
maintenance and repair services. For more information, please visit www.servicechampions.com
or www.moorehomeservices.com.
About CenterOak Partners LLC
CenterOak Partners LLC is a
private equity firm with a focus on making control-oriented investments
in middle market companies organized or operating in the United States.
The Firm specializes in three key industry sectors: Industrial Growth,
Consumer, and Business Services. Based in Dallas, Texas, the investment
and portfolio management team has a strong historical track record
creating significant value through operational improvement. CenterOak’s
senior leaders and their predecessor funds have managed over $1.8
billion of equity capital commitments and have completed over 100
acquisitions, representing over $4.1 billion in transaction value. For
additional information, please visit www.centeroakpartners.com.
Contacts
Caroline Collins
BackBay Communications
617-963-0065
[email protected]
