TMCnet News
CenterOak Partners Forms Leading Residential HVAC Maintenance & Repair Company Serving the Southern and Northern California MarketsCenterOak 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 (News - Alert) 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 strateies 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
About CenterOak Partners LLC
View source version on businesswire.com: https://www.businesswire.com/news/home/20190515005252/en/ |