Private equity giant Blackstone has agreed to acquire Champions Group, a home services company, from Odyssey. The deal marks another significant move by Blackstone in the fragmented home services sector, where it has been building a portfolio of businesses.

Odyssey and the company's management team will retain a substantial minority stake in Champions Group following the transaction. This structure allows the sellers to maintain some upside in the business while benefiting from Blackstone's resources and scale.

Champions Group operates in the home services industry, which has seen increased consolidation activity as private equity firms seek to roll up fragmented markets. The transaction underscores Blackstone's continued appetite for service-based businesses with recurring revenue models and strong cash flow characteristics.