Service Champions Acquires Sierra Air In Reno
BREA, Calif., March 31, 2021 /PRNewswire/ -- Service Champions Plumbing, Heating & AC ("Service Champions") today announced that it has acquired Sierra Air ("Sierra") a market-leading home services company in Reno, Nevada.
Founded in 1986, Sierra is the #1 HVAC company in Reno, and will give Service Champions a leading position in that market in both HVAC and Plumbing when paired with Jet Plumbing Heating & Drain Services, a plumbing-focused company that was acquired in 2020. The companies will be led by founder and CEO of Service Champions, Leland A. Smith, and his management team, although Sierra and Jet Plumbing will continue to operate under their existing brand names. Sierra's founder Ron Ford has become a shareholder of Service Champions.
Mr. Smith said: "We are excited to assume a market-leading position in Reno through this acquisition. Sierra is a natural complement to Jet Plumbing, and we are thrilled to extend market share by combining our businesses and leveraging our collective operational and marketing expertise. This transaction represents a natural fit for our long-term growth plan to be the largest residential HVAC and plumbing services company in the Western United States."
"Partnering with Service Champions is an exciting next step for us," said Ron Ford, founder of Sierra. "We look forward to continuing to provide quality service to our customers and sharing best practices. Our focus has always been on taking care of our customers and employees, which is in complete alignment with the vision of Service Champions."
"This acquisition is a great addition to our portfolio. We continue to build density in the markets we are already in and to expand our footprint across the Western United States," said Frank DiMarco, COO of Service Champions.
Daniel Hamm, CFO of Service Champions, said: "Service Champions is actively seeking acquisitions that continue to broaden our footprint in the Western United States and beyond. Our goal is to invest, integrate and grow service businesses with the mission to deliver the absolute best Home Service customer experience imaginable to our clients."
Service Champions is a portfolio company of Odyssey Investment Partners ("Odyssey"), which invested alongside management to acquire the company in December 2020.
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. 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 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.
Contact:
For M&A Inquiries
Daniel Hamm
Chief Financial Officer
[email protected]
SOURCE Service Champions Plumbing, Heating & AC
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