Genstar Capital acquires Oncourse Home Solutions from Apax Funds
The national home-warranty provider serves more than two million customers across 48 states through affinity partnerships and a growing direct-to-consumer business.
Genstar Capital has agreed to acquire Oncourse Home Solutions, a national provider of home infrastructure warranties covering water, sewer, gas and electric lines, in-home plumbing, appliances and other home systems, from Apax Funds. Founded in 1992, the company serves more than two million customers across 48 states through affinity partnerships and a growing direct-to-consumer business.
Genstar plans to grow the business through new distribution partnerships, deeper homeowner relationships and acquisitions, building on the firm's prior warranty-sector experience. Apax's five-year hold period produced a standalone leadership structure, modernized technology and claims systems, and an investment-grade financing platform.
“When we carved Oncourse out of American Water in 2021, we backed a high-quality business in a category with long-term, non-discretionary demand,” said Ashish Karandikar, partner at Apax.
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