Blackstone-Backed Champions Group Acquires Bardi Heating, Cooling, Plumbing and Electric

What happened

Champions Group Holdings, a home services company based in Irvine, California, announced on November 4, 2026, that it had acquired Bardi Heating, Cooling, Plumbing and Electric. Bardi is a residential HVAC, plumbing, and electrical contractor based in the Atlanta, Georgia, area. It is Champions Group's first acquisition in the southeastern United States. Bardi will keep its brand and operate under the same name, with the support and resources of Champions Group. The announcement did not include a price or other financial terms.

The seller

Alex Bardi, an engineer, founded the company in 1989 as an HVAC business serving the Atlanta area. His son, Adam Bardi, grew up working in the business and returned to it in 2018 after ventures of his own. Under Adam Bardi's leadership, the company grew from a primarily HVAC shop into plumbing, electrical, insulation, indoor air quality, and water purification. He is the company's president.

Bardi had been family-owned since its founding. It serves homeowners across Metro Atlanta from its Norcross office and a second in Roswell, and it is a Lennox authorized dealer.

"We've always been about taking care of people first," Adam Bardi said in the announcement. "Champions Group operates the same way, which made this partnership a natural fit."

The buyer

Champions Group began as Service Champions, a Southern California plumbing, heating, and air conditioning company, and took the Champions Group Holdings name in 2023. Its companies operate in California, Nevada, Arizona, Colorado, Texas, Ohio, and Washington, and Bardi adds Georgia. Chief executive Frank DiMarco is a third-generation HVAC operator.

In February 2026, Blackstone agreed to acquire Champions Group from Odyssey Investment Partners through funds managed by BXPE, its perpetual private equity strategy. Odyssey and management retained a significant minority investment alongside Blackstone. At the time of that agreement, Champions Group had more than 1,800 field technicians and 150,000 active members.

Champions Group said Bardi's "reputation and multi-trade capabilities made it the right foundation" for its expansion into the Southeast. "Bardi has built something special in Atlanta — a team that treats every customer like family," DiMarco said. "That's the kind of company we're proud to welcome into Champions Group as we plant our flag in the Southeast."

How Champions Group handles the brands it buys

Bardi's brand terms match Champions Group's earlier deals this year. In January it acquired Lex Cooling, Heating, Plumbing & Electrical, a North Texas residential provider founded in 2004 by Cory and Anthony Contreras. In August it added Powell Electric, a Southern California residential electrical company founded in 1971. Each kept its brand identity and operates under its own name within the group.

Champions Group says it does not run its brands from a corporate office. Four division presidents, each with more than 20 years in the industry, lead its operations. Owners weighing a similar move can read our guide on selling an HVAC business to private equity.

What this means for plumbing and HVAC owners

A platform's first company in a new region has no sister brand nearby to cover the trades it lacks, so it has to deliver the full service on its own. For an owner who has built plumbing and electrical on top of an HVAC base, that breadth is what can make the business a buyer's starting point in a market, rather than one more branch where the buyer already operates.

OffDeal is an advisory firm that helps lower-middle-market business owners sell with confidence. Reach out to learn more about our expertise with plumbing and HVAC businesses in Georgia.

Own a plumbing and HVAC business with $5M–$100M in revenue? We’re glad to give you an honest read on what it’s worth and who would buy it — no pitch, no pressure. Get a free valuation.

Source: PR Newswire - https://www.prnewswire.com/news-releases/champions-group-marks-first-acquisition-in-the-southeast-with-addition-of-bardi-heating-cooling-plumbing-and-electric-302926870.html