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Genstar to acquire home warranty provider Oncourse Home Solutions
The deal is expected to close in the fourth quarter of 2026, subject to customary approvals, and financial terms were not disclosed.
Genstar Capital has agreed to acquire home warranty provider Oncourse Home Solutions from funds advised by Apax Partners, Coverager reports.
Oncourse, founded in 1992 and headquartered in Naperville, Illinois, offers protection plans covering items including water, sewer, gas, and electric lines, in-home plumbing, home systems, and appliances. The company serves more than two million customers across 48 states through affinity partnerships and a direct-to-consumer channel.
Coverager reports that under Genstar’s ownership, Oncourse plans to pursue new distribution partnerships and strategic acquisitions to accelerate growth. The transaction is expected to close in the fourth quarter of 2026, subject to customary approvals, and financial terms were not disclosed.
The report also notes that Apax carved Oncourse out of American Water in 2021 to establish it as a standalone company. It adds that Obsidian Insurance Company received an A- financial strength rating from A.M. Best to issue policies underwritten by managing general agents, managing general underwriters, and program managers.