Blackstone Agrees to Acquire Champions for About $2.5 Billion

Blackstone Inc. has agreed to acquire residential services provider Champions Group in a deal that shows how private equity firms are seeking refuge in sectors less vulnerable to AI disruption.

The buyout group is buying Champions from existing owner Odyssey Investment Partners, according to a statement Tuesday that confirmed a Bloomberg News report. Financial terms were not disclosed.

The deal values Orange County, California-based Champions at about $2.5 billion, people familiar with the matter said, asking not to be identified discussing confidential information.

Blackstone is making the investment through its retail-focused perpetual private equity strategy, known as BXPE. ...