NAPERVILLE, Ill.--(BUSINESS WIRE)--August 19, 2026--
Oncourse Home Solutions ("Oncourse" or "the Company"), a leading
national provider of home infrastructure warranties, today announced
that Genstar Capital ("Genstar") has entered into a definitive agreement
to acquire the Company from funds advised by Apax Partners LLP ("Apax").
Founded in 1992, Oncourse protects the critical home infrastructure that
homeowners rely on, including water, sewer, gas, and electric lines,
in-home plumbing, and home systems and appliances. The Company serves
more than two million customers across 48 states, reaching homeowners
through exclusive affinity partnerships and a growing direct-to-consumer
channel.
Aaron Cooper, Chief Executive Officer of Oncourse Home Solutions, said:
"This ownership transition marks an important milestone for Oncourse and
reflects the strength of our business and the dedication of our
employees. We have built a business that puts customers at the center of
everything we do, and with Genstar's experience, resources and
commitment to long-term growth, we are well positioned to further
elevate the customer experience, deepen the value we deliver to our
partners and build on the significant momentum created with Apax. I am
incredibly proud of what our employees have accomplished at Oncourse,
and I want to thank the Apax team for their partnership throughout their
ownership. We look forward to beginning this next chapter with Genstar."
Ashish Karandikar, Partner at Apax, said: "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. Our work helped turn
a utility-owned program into a standalone company with a strong
leadership team led by Aaron Cooper, modern technology and claims
systems, and, most recently, an investment-grade financing platform.
That is what gives Oncourse a durable foundation to grow independently
from here."
Nedu Ottih, Partner at Apax, added: "What distinguishes Oncourse is the
trust it has built with its partners and homeowners. Throughout our
partnership, the team has added new affinity partners, built a
fast-growing direct-to-consumer channel, and established a disciplined
acquisition capability, all while maintaining high service standards and
staying true to its commitment to customers. We are grateful to the
management team and everyone at Oncourse for an outstanding partnership,
and believe Genstar is the right partner to build on this strong
foundation and lead the business through its next phase of growth."
Ryan Clark, President & Managing Partner at Genstar, said: "Genstar's
experience investing across the warranty industry gives us conviction
that Oncourse is in the early innings of its growth journey. Looking
ahead, Oncourse is primed to accelerate through new distribution
partnerships, expanding homeowner relationships, and strategic
acquisitions. We congratulate Apax, Aaron and the entire team at
Oncourse on their success in scaling the Company into a leading home
protection platform."
Conor Flemming, Principal at Genstar, added: "The market for home
infrastructure warranties is large and underserved, and Oncourse is well
positioned to capitalize on that opportunity. Aaron and his team have
earned this position by delivering relentlessly for their partners and
the homeowners they serve. We are excited to build on their momentum in
the next stage of growth."
The transaction is expected to close in Q4 2026, subject to customary
regulatory approvals and closing conditions. Terms of the transaction
were not disclosed.
Goldman Sachs & Co. LLC and Jefferies served as financial advisors to
Apax and Oncourse, and Simpson Thacher & Bartlett LLP served as legal
advisor. Evercore served as exclusive financial advisor to Genstar, and
Ropes & Gray LLP served as legal advisor.
About Oncourse Home Solutions
Oncourse Home Solutions is a leading home protection provider focused on
protecting more than 2 million customers from unexpected costs by
providing flexible services for home repairs and maintenance across the
country. With more than three decades of experience, Oncourse Home
Solutions has stayed committed to simplifying the hassles of home care
and providing coverage that simply works, giving homeowners peace of
mind. For more information, visit https://oncourse.com/.
About Apax
Apax is a global private equity advisory firm investing in mid-market
businesses across the Technology, Services, and Internet/Consumer
sectors. Oncourse sits at the intersection of two end markets the Apax
funds have deep expertise in, namely insurance services and residential
services, with current and prior investments in Hub International,
Assured Partners, PIB, Authority Brands, and SavATree. Combining the
scale of a global firm with the focus of a sector specialist, Apax works
with management teams to create long-term value through operational
value creation. With more than 50 years of private equity experience in
operational value creation, Apax has raised and advised funds with
aggregate commitments of approximately $80 billion. For more information,
please visit www.apax.com.
About Genstar
Genstar Capital (www.gencap.com) is a leading private equity firm that
has been actively investing in high-quality companies for over 35 years.
Based in San Francisco, Genstar works in partnership with its management
teams and its network of strategic advisors to transform its portfolio
companies into industry-leading businesses. Genstar currently has
approximately $51 billion of assets under management and targets
investments focused on targeted segments of the financial services,
industrials, healthcare, and software industries.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260819248385/en/
CONTACT: Media Contacts
Apax
Kat Sallerfors
t: +44 20 7872 6300
e: katarina.sallerfors@apax.com
Red Thread PR on behalf of Oncourse Home Solutions:
Nicole Gainer
t: +1 856 266 1707
e: nicole@redthreadpr.com
Genstar Capital
FGS Global
e: GenstarCapital@FGSGlobal.com