Intrepid announced today that it acted as the exclusive financial advisor to Service Champions North (Service Champions) on its sale to Wrench Group, LLC (Wrench), a portfolio company of Leonard Green & Partners, L.P. Founded in Pleasanton, Calif. in 2002, Service Champions quickly emerged as the leading provider of repair, maintenance and installation services for residential air conditioning and heating systems in the greater East Bay area of San Francisco. Service Champions’ emphasis on providing exceptional service to its customers enabled the company to rapidly gain market share and become a household name by consistently exceeding the expectations of the region’s homeowners.
Kevin Comerford, Founder and CEO of Service Champions, remarked: “Our culture is unique and special, and it’s been our competitive advantage for more than 17 years. I am delighted to have found a partner whose core values align so well with ours. We’re excited about the tremendous growth we see in our future, and the opportunities that this partnership will provide for our team members both personally and professionally. I look forward to leading the company into our next chapter and continuing to build on our legacy for the benefit of our dedicated employees and customers. I cannot thank Intrepid enough for guiding us through this process–from start to finish; they were true Champions and a natural extension of our team.”
Ken Haines, CEO of Wrench, added: “Service Champions is exactly the kind of market-leading organization that Wrench seeks to partner with, and we are honored to establish our first presence in California with Kevin at the helm.” Haines continued, “Service Champions became a household name in Northern California and has experienced impressive growth over many years through its unparalleled commitment to its employees and customers. We could not be more pleased to welcome Service Champions into the Wrench organization and look forward to working together to further expand in the West Coast.”
“We are thrilled to have been a part of this transformational initiative for Kevin and the Service Champions team. The combination of two of the highest caliber organizations in this sector will benefit from greater scale and shared best practices. This transaction was efficiently managed, amid the backdrop of COVID-19 related stay-at-home orders, to achieve a great outcome for both parties. We congratulate the teams at Wrench and Service Champions on joining forces to create a truly differentiated market leader and are excited to watch the continued growth of the platform,” said Jeremiah Mann, Managing Director at Intrepid.
Wrench Group is a national leader in home repair, replacement and maintenance services specializing in heating, ventilation and air conditioning, plumbing, water, and electrical services. With a strong reputation dating back to the 1940s, the company services more than 550,000 customers annually in Atlanta, Dallas, Denver, Fort Myers, Houston, Jacksonville, Phoenix, Naples, Sacramento, Sarasota, San Francisco Bay Area and Tampa.
Greenburg Glusker LLP were the legal advisors to Service Champions.
Deal Team Contacts
About Intrepid Investment Bankers
Intrepid provides M&A, capital raising and strategic advisory services to entrepreneurs and middle-market companies in various industry sectors. Our heritage breeds a culture that embraces teamwork, tenacity and creativity to help our clients win big. We believe that every company has an entrepreneurial passion that drives it and a story that defines it. Our team delivers results through skillful positioning and relentless execution. Based in Los Angeles, Intrepid augments its international capabilities through its active participation in Oaklins, an exclusive global alliance of M&A advisory firms.