Key Takeaways
- • Apollo Funds 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, more than 13,000 teammates and more than $3 billion in annual revenue, and was founded in 2019.
- • Goldman Sachs, Evercore and Piper Sandler advised Apex and Alpine, while William Blair and J.P. Morgan advised Apollo; Kirkland & Ellis, Akin and Latham & Watkins served as legal counsel.
- • Apollo's Munesh Advani said its partnership-oriented capital will support workforce, service capabilities and customer experience investment in the next phase of growth.
Summary
Apex Service Partners and Alpine Investors announced the closing of a previously announced strategic minority investment in Apex led by funds managed by affiliates of Apollo ("Apollo Funds"), according to a Business Wire release dated October 30, 2026. The transaction also included an additional investment from Alpine and Sixth Street. The companies did not disclose the transaction value in the announcement.
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 are continued national expansion, deeper multi-trade service offerings, and investment in technology and talent infrastructure. Apex describes itself as the nationwide leader in residential home services, operating in 46 states with more than 150 locations, more than 13,000 teammates and more than $3 billion in annual revenue. The company says it is the fastest-growing home services platform in the sector.
Alpine Investors has backed Apex since 2019. Graham Weaver, Founder and CEO of Alpine, said the firm's approach "has stayed the same since 2019: back strong operators, invest in their people, and give them room to build something lasting." Apex Co-Chief Executive Officers AJ Brown and Will Matson said the company will keep investing in training, technology and its local brands. Munesh Advani, Managing Director at Apollo, said Apex "has built an impressive business with strong management and trusted local brands."
Apollo is a global alternative asset manager with approximately $1.05 trillion in assets under management as of June 30, 2026, according to the release. Alpine, a private equity firm focused on software and services, had $17.7 billion in assets under management as of the same date. The release also notes that 65% of Apex's senior leaders come from military backgrounds, and that Apex was recognized as a Top Veteran-Friendly Employer by U.S. Veterans Magazine in 2025.
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 are continued national expansion, deeper multi-trade service offerings, and investment in technology and talent infrastructure. Apex describes itself as the nationwide leader in residential home services, operating in 46 states with more than 150 locations, more than 13,000 teammates and more than $3 billion in annual revenue. The company says it is the fastest-growing home services platform in the sector.
Alpine Investors has backed Apex since 2019. Graham Weaver, Founder and CEO of Alpine, said the firm's approach "has stayed the same since 2019: back strong operators, invest in their people, and give them room to build something lasting." Apex Co-Chief Executive Officers AJ Brown and Will Matson said the company will keep investing in training, technology and its local brands. Munesh Advani, Managing Director at Apollo, said Apex "has built an impressive business with strong management and trusted local brands."
Apollo is a global alternative asset manager with approximately $1.05 trillion in assets under management as of June 30, 2026, according to the release. Alpine, a private equity firm focused on software and services, had $17.7 billion in assets under management as of the same date. The release also notes that 65% of Apex's senior leaders come from military backgrounds, and that Apex was recognized as a Top Veteran-Friendly Employer by U.S. Veterans Magazine in 2025.
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