Key Takeaways
- • Apollo Funds have completed a strategic minority investment in Apex Service Partners, the nation's largest residential HVAC, plumbing and electrical services business, alongside an additional investment from Alpine Investors and Sixth Street, according to a Business Wire announcement.
- • Apex operates in 46 states with more than 150 locations, over 13,000 teammates and more than $3 billion in annual revenue, and was founded in 2019.
- • Apollo Funds will partner with Apex's management team and Alpine to support expansion of the national footprint, multi-trade service offerings, and technology and talent infrastructure.
- • Goldman Sachs and Evercore advised Apex and Alpine as financial advisors, with Kirkland & Ellis as legal counsel; William Blair and J.P. Morgan advised Apollo, with Akin as legal counsel.
- • Apollo had approximately $1.05 trillion in assets under management as of June 30, 2026, while Alpine had $17.7 billion as of the same date.
Summary
Apex Service Partners and Alpine Investors announced the completion of a previously announced strategic minority investment in Apex led by funds managed by affiliates of Apollo ("Apollo Funds"), alongside an additional investment from Alpine and Sixth Street. The companies described Apex as the nation's largest residential HVAC, plumbing and electrical services business. The transaction closing was disclosed in a Business Wire release from Tampa, Florida and Dallas/Fort Worth, Texas.
With the transaction complete, Apollo Funds will partner with Apex's management team and Alpine to support the company's next phase of growth. The stated priorities include continued national expansion, deeper multi-trade service offerings, and investment in technology and talent infrastructure. Apex describes itself as the fastest-growing home services platform, operating in 46 states with more than 150 locations, more than 13,000 teammates and more than $3 billion in annual revenue.
Graham Weaver, Founder and CEO of Alpine Investors, said the firm has worked with Apex since 2019 and that its approach of backing strong operators and investing in their people has not changed. AJ Brown and Will Matson, Co-Chief Executive Officers of Apex, said the company would continue investing in training, technology and its local brands. Munesh Advani, Managing Director at Apollo, said Apollo's partnership-oriented capital is suited to support investment in the workforce, service capabilities and customer experience.
Goldman Sachs and Evercore acted as financial advisors and Kirkland & Ellis as legal counsel to Apex and Alpine on the minority investment, with Piper Sandler also advising Apex and Alpine. William Blair and J.P. Morgan served as financial advisors and Akin as legal counsel to Apollo. Harris Williams served as financial advisor and Latham & Watkins as legal counsel to Sixth Street. The release did not disclose the investment amount or the size of the stake acquired by Apollo Funds.
With the transaction complete, Apollo Funds will partner with Apex's management team and Alpine to support the company's next phase of growth. The stated priorities include continued national expansion, deeper multi-trade service offerings, and investment in technology and talent infrastructure. Apex describes itself as the fastest-growing home services platform, operating in 46 states with more than 150 locations, more than 13,000 teammates and more than $3 billion in annual revenue.
Graham Weaver, Founder and CEO of Alpine Investors, said the firm has worked with Apex since 2019 and that its approach of backing strong operators and investing in their people has not changed. AJ Brown and Will Matson, Co-Chief Executive Officers of Apex, said the company would continue investing in training, technology and its local brands. Munesh Advani, Managing Director at Apollo, said Apollo's partnership-oriented capital is suited to support investment in the workforce, service capabilities and customer experience.
Goldman Sachs and Evercore acted as financial advisors and Kirkland & Ellis as legal counsel to Apex and Alpine on the minority investment, with Piper Sandler also advising Apex and Alpine. William Blair and J.P. Morgan served as financial advisors and Akin as legal counsel to Apollo. Harris Williams served as financial advisor and Latham & Watkins as legal counsel to Sixth Street. The release did not disclose the investment amount or the size of the stake acquired by Apollo Funds.
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