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Blackstone (BXPE)

Verified

Pe Firm

US

Blackstone's perpetual PE strategy BXPE signed a definitive agreement Feb 17 2026 to acquire Champions Group from Odyssey Investment Partners (~$2.5B EV, ~18.5x EBITDA). NOT closed as of the source date.

Headquarters: US (outside the US map).

Ownership map

Ownership links are documented, evidence-gated edges, shown as reported by their sources. Naming a company is not an accusation against it. See our methodology and legal notes.

Ownership map for Blackstone (BXPE)DivestedDivestedFormerly Known AsPart Ofbacked bybacked bybacked bybacked byparent ofparent ofparent ofparent ofparent ofrolled up intorolled up intorolled up intorolled up intorolled up intorolled up intorolled up into7AC Technologies, Inc.: Operating Company7T7AC Technologies, Inc.ASI Hastings Heating, Air & Solar: Operating CompanyASI Hastings Heating,…Bee’s Plumbing and Heating: Operating CompanyBee’s Plumbing and He…Bell Brothers Heating & Air Conditioning: Operating CompanyBell Brothers Heating…Blackstone: Operating CompanyBlackstoneBlackstone (BXPE): Pe FirmBBBlackstone (BXPE)Bueno Analytics: Operating CompanyBABueno AnalyticsCenterOak Partners: Pe FirmCPCenterOak PartnersChampions Group: PlatformCGChampions GroupCooper-Atkins: Operating CompanyCACooper-AtkinsCopeland: PlatformCopelandEmerson: Operating CompanyEmersonEmerson Climate Technologies: PlatformECEmerson Climate Techn…Emerson Electric: Operating CompanyEmerson ElectricFetch-A-Tech: Operating CompanyFetch-A-TechGemspring Capital: Pe FirmGCGemspring CapitalKirloskar Copeland Limited: Operating CompanyKCKirloskar Copeland Li…Legence Corp.: Operating CompanyLCLegence Corp.Lex Cooling, Heating, Plumbing & Electrical: Operating CompanyLex Cooling, Heating,…Locus Traxx: Operating CompanyLTLocus TraxxM and M Heating, Cooling, Plumbing and Electrical: Operating CompanyMAM and M Heating, Cool…Marine Container and Boiler business: Operating CompanyMCMarine Container and …McAfee Heating and Air Conditioning: Operating CompanyMcAfee Heating and Ai…Oaksmere Refrigeration Design and Consultancy Ltd.: Operating CompanyOROaksmere Refrigeratio…Odyssey Investment Partners: Pe FirmOIOdyssey Investment Pa…PakSense: Operating CompanyPAPakSensePentair: PlatformPentairSWAN Heating & Air Conditioning: Operating CompanySHSWAN Heating & Air Co…Saftronics: Operating CompanySASaftronicsSeatown Electric, Plumbing, Heating & Air: Operating CompanySeatown Electric, Plu…Service Wizard Heating & Air Conditioning: Operating CompanyService Wizard Heatin…Sierra Air (Reno): Operating CompanySierra Air (Reno)Therma Holdings LLC: PlatformTHTherma Holdings LLCVilter Manufacturing LLC: Operating CompanyVMVilter Manufacturing …Wrench Group: PlatformWrench GroupYearout Mechanical: Operating CompanyYMYearout Mechanical
Operating CompanyPe FirmPlatform

Ownership

Ownership links are documented, evidence-gated edges, shown as reported by their sources. A verified mark denotes an independently corroborated edge; links shown as reported are drawn as their sources record them and are not independently corroborated. Naming a company is not an accusation against it. See our methodology and legal notes.

Market signals

Acquisition history

Acquisition timeline201920202021202220232024202520262019 · Majority stake → Therma Holdings LLC2020 · Majority stake → Therma Holdings LLC2022 · Majority stake → Copeland2023 · Majority stake → Emerson Climate Technologies2023 · Add-on acquisition → CMTA2023 · Add-on acquisition → KLOK Group2023 · Add-on acquisition → Shadpour Consulting Engineers Inc. (SC Engineers)2023 · Add-on acquisition → Therma Holdings LLC2023 · Add-on acquisition → Trinity Process Solutions Inc.2024 · Majority stake → Copeland2024 · Exit → Copeland2024 · Exit → Emerson2026 · Majority stake → Champions Group2026 · Exit → Champions Group
14 recorded deals, 2019–2026verifiedunverified

Acquisition footprint

US acquired companies by state Alaska: no recorded acquired companies Alabama: no recorded acquired companies Arkansas: no recorded acquired companies Arizona: no recorded acquired companies California: 5 acquired companies Colorado: no recorded acquired companies Connecticut: no recorded acquired companies District of Columbia: no recorded acquired companies Delaware: no recorded acquired companies Florida: no recorded acquired companies Georgia: no recorded acquired companies Hawaii: no recorded acquired companies Iowa: no recorded acquired companies Idaho: no recorded acquired companies Illinois: no recorded acquired companies Indiana: no recorded acquired companies Kansas: no recorded acquired companies Kentucky: no recorded acquired companies Louisiana: no recorded acquired companies Massachusetts: no recorded acquired companies Maryland: no recorded acquired companies Maine: no recorded acquired companies Michigan: no recorded acquired companies Minnesota: no recorded acquired companies Missouri: 5 acquired companies Mississippi: no recorded acquired companies Montana: no recorded acquired companies North Carolina: no recorded acquired companies North Dakota: no recorded acquired companies Nebraska: no recorded acquired companies New Hampshire: no recorded acquired companies New Jersey: no recorded acquired companies New Mexico: no recorded acquired companies Nevada: no recorded acquired companies New York: no recorded acquired companies Ohio: no recorded acquired companies Oklahoma: no recorded acquired companies Oregon: no recorded acquired companies Pennsylvania: no recorded acquired companies Rhode Island: no recorded acquired companies South Carolina: no recorded acquired companies South Dakota: no recorded acquired companies Tennessee: no recorded acquired companies Texas: no recorded acquired companies Utah: no recorded acquired companies Virginia: no recorded acquired companies Vermont: no recorded acquired companies Washington: no recorded acquired companies Wisconsin: no recorded acquired companies West Virginia: no recorded acquired companies Wyoming: no recorded acquired companies
  1. 1. California 5
  2. 2. Missouri 5
1–4 5–14 15–39 40–79 80+ no recorded acquired companies
Where the brands Blackstone (BXPE) acquired are headquartered, by US state. A count of targets, not a market-share claim.

Deals

Majority stake Feb 2026

Blackstone to acquire Champions Group residential services platform

Blackstone (BXPE) → Champions Group
$2.5B reported total consideration · approximateas reported by hvacknowitall.com
Majority stake Jul 2024

Blackstone PE to purchase Emerson's 40% Copeland stake; ADIA and GIC co-invest

Blackstone (BXPE) → Copeland
Majority stake Nov 2022

Blackstone acquires Emerson Climate Technologies (rebranding to Copeland) for $14B

Blackstone (BXPE) → Copeland
$14B reported total considerationas reported by plumbingandhvac.ca
Majority stake Nov 2020

Blackstone to acquire Therma Holdings from Gemspring Capital

Blackstone (BXPE) → Therma Holdings LLC
Majority stake Jan 2019

Related article references Blackstone to acquire Therma Holdings

Blackstone (BXPE) → Therma Holdings LLC
Majority stake Jun 2023

Blackstone acquires Emerson Climate Technologies (rebranding to Copeland) for $14B

Blackstone (BXPE) → Emerson Climate Technologies
$14B reported total considerationas reported by plumbingandhvac.ca
Exit Feb 2026

Odyssey Investment Partners sells Champions Group, retains minority stake

Blackstone (BXPE) → Champions Group
Exit Jul 2024

Emerson to sell remaining Copeland interest to Blackstone PE for ~$3.3B

Blackstone (BXPE) → Copeland
Exit Jul 2024

Emerson to sell remaining Copeland interest to Blackstone PE for ~$3.3B

Blackstone (BXPE) → Emerson
Add-on acquisition Jan 2023

Blackstone-backed Legence acquires SC Engineers, Trinity, and KLOK Group

Legence Corp. → CMTA
Add-on acquisition Jan 2023

Blackstone-backed Legence acquires SC Engineers, Trinity, and KLOK Group

Legence Corp. → KLOK Group
Add-on acquisition Jan 2023

Blackstone-backed Legence acquires SC Engineers, Trinity, and KLOK Group

Legence Corp. → Shadpour Consulting Engineers Inc. (SC Engineers)
Add-on acquisition Jan 2023

Blackstone-backed Legence acquires SC Engineers, Trinity, and KLOK Group

Legence Corp. → Therma Holdings LLC
Add-on acquisition Jan 2023

Blackstone-backed Legence acquires SC Engineers, Trinity, and KLOK Group

Legence Corp. → Trinity Process Solutions Inc.

Related news

  • Blackstone Strikes Deal for Home Services Provider Champions GroupVerified
    peprofessional.com· Feb 17, 2026

    Blackstone has struck a deal to acquire Champions Group, a home services provider offering HVAC, plumbing, and electrical services. Odyssey, which acquired Champions from CenterOak Partners in January 2021, will remain invested alongside Blackstone. The acquisition is expected to close in the first half of 2026.

  • Excited to Share an Important Next Chapter for Champions GroupVerified
    championsgroupholdings.com· Feb 17, 2026

    Blackstone's perpetual private equity strategy (BXPE) has agreed to acquire Champions Group, a home services provider, from Odyssey Investment Partners. Odyssey and management will retain a significant minority stake. The deal is expected to close in the first half of 2026, with terms undisclosed.

  • Blackstone Announces Agreement to Acquire Champions GroupVerified
    blackstone.com· Feb 17, 2026

    Blackstone announced that funds managed by its perpetual private equity strategy (BXPE) have entered into a definitive agreement to acquire Champions Group, a provider of essential home services, from Odyssey Investment Partners. Odyssey and management are retaining a significant minority investment alongside Blackstone. The transaction is expected to close in the first half of 2026, and terms were not disclosed.

  • Blackstone Announces Additional Investment in AIR Control ConceptsVerified
    finance.yahoo.com

    Blackstone announced an additional investment in AIR Control Concepts, a commercial HVAC, electrical, and controls platform. The article states that Blackstone has been a partner since 2024 and that the investment will support AIR's continued expansion, including in data centers and adjacency strategies. Terms of the transaction were not disclosed.

  • AIR Control Concepts - Backed by BlackstoneVerified
    aircontrolconcepts.com

    AIR Control Concepts (AIR) is described as the largest global platform of leading HVAC, electrical, and controls companies, operating across North America and expanding into EMEA. The article states that AIR is backed by Blackstone and headquartered in Norfolk, Virginia, and that it connects local expertise with the scale and resources of a larger organization.