PE-backed Service Champions Group buys SWAN Heating & Air Conditioning

Service Champions Group, which is backed by Odyssey Investment Partners, has acquired Colorado-based SWAN Heating & Air Conditioning Inc, a provider of HVAC and plumbing services.

Service Champions Group, which is backed by Odyssey Investment Partners, has acquired Colorado-based SWAN Heating & Air Conditioning Inc, a provider of HVAC and plumbing services. No financial terms were disclosed.

PRESS RELEASE

BREA, Calif., Aug. 10, 2021 /PRNewswire/ — Service Champions Group, a leading U.S. Plumbing, Heating and Air Conditioning services business continues its expansion into new markets, announcing today that it has acquired SWAN Heating & Air Conditioning, Inc., one of the top brands in Colorado. SWAN provides HVAC and plumbing services to single-family homeowners in the greater Loveland and Denver areas. Beginning operations in Loveland in 2006, and Denver in 2014, SWAN, owned and operated by Tim and Andy Swan, is an established player passionate about taking care of the needs of homeowners and their families in the Loveland and Denver metro areas and will broaden Service Champions’ coordinated network of operations to include two attractive Colorado markets. Service Champions is a portfolio company of Odyssey Investment Partners.

Leland Smith, Founder and CEO of Service Champions is delighted with the alliance, “Service Champions and SWAN have a shared purpose. The safety and well-being of our customers, our communities and our employees is our number one priority. Our collective goal is to provide the best service to every homeowner in our served markets. We strive to deliver services that are fair, accessible, and inclusive, and SWAN has built a trusted brand aligned with those principles. This partnership enables the companies to better deliver compelling services that expand access to more consumers,” said Smith. “The acquisition of SWAN is our first flag planted in Colorado and will serve as a foundation for further expansion as well as our continued commitment to building the country’s premier home services group.”

Swan’s President, Tim Swan’s words echo those of Smith. “We are fully aligned with Service Champions’ purpose and we are proud to join their family of businesses. My brother Andy and I have always wanted to bring the service and experience SWAN offers to a larger audience. Service Champions’ investment in the SWAN brand allows us to do just that. We have built our business based on honesty, commitment to customer service, and a positive company culture. Service Champions operates on those same principles. Their partnership allows us to extend the value we bring to our customers. Together we will do great things for the Denver and Loveland communities,” said Swan.

“Synergies achieved from the integration of SWAN, in addition to those of Hobaica and HELP in recent months, have the potential to unlock greater scale. We are going to be focused on doing whatever we can to help all of our brands grow and maximize the opportunity for their business, which is significant right now. During this extraordinary time in our company’s history, it has become abundantly clear how vital a strong and reliable network of home service providers is to the world we live in,” said Frank DiMarco, Service Champions COO.

Service Champions’ CFO, Daniel Hamm sees strength in numbers. “We’ve been very active over the past year, looking to acquire leading brands in new markets. By acquiring SWAN, we will expand our footprint in the U.S, offering access to a broader platform of new and valuable capabilities and services to residents in the Mountain West. SWAN is a significant opportunity for us in the Colorado marketplace. We are keenly focused on stepping up our game and intently looking toward future opportunities to expand our footprint across the U.S.,” said Hamm.

About Service Champions Group
Based in Orange County, CA, Service Champions is a leading provider of essential home services specializing in heating, air conditioning and plumbing services. 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. Service Champions goes to market with several trade names including: Service Champions, Bell Brothers, Moore Home Services, ASI, Adeedo! and ProSkill Services. For more information, please visit https://partnerships.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.