Apex Service Partners, the nation’s largest residential HVAC, plumbing, and electrical services business, announced it has entered into a definitive agreement with funds managed by affiliates of Apollo, under which Apollo Funds will acquire a minority interest in Apex. Existing investor Alpine Investors is also making an additional investment in Apex to support the company’s continued growth. Financial terms of the transaction were not disclosed.
Founded in 2019, Apex Service Partners was created to elevate the home services industry through investments in tradespeople, local brands, and customer service. The company now operates 75 local brands across 46 states, employs more than 13,000 people, and has served over 16 million homes.
The company said its talent acquisition and development programs have supported more than 8,000 technicians and placed over 300 Apex-trained operating leaders, contributing to strong customer and employee satisfaction metrics.
The investment from Apollo Funds is expected to support Apex’s next phase of expansion as the company grows its national footprint, expands multi-trade service offerings, and enhances the technology and talent infrastructure supporting its operating model.
The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions.
Goldman Sachs and Evercore served as financial advisors to Apex and Alpine, while Kirkland & Ellis acted as legal counsel. William Blair and J.P. Morgan served as financial advisors to Apollo, and Akin acted as legal counsel.
Founded in 2019, Apex Service Partners operates more than 150 locations across 46 states and generates more than $3 billion in annual revenue.
KEY QUOTES:
“Seven years ago, our team founded Apex on a simple conviction that the best way to build a national platform in the trades is to invest deeply in the people who power it. The platform we’ve built alongside Alpine, and the results our teams have delivered for technicians and homeowners across the country, validate that belief. Apollo is a value-add capital partner with a shared commitment to accelerate what is already working as we pursue our mission of transforming the trades through the industry’s strongest business, one we’ve built to thrive for decades and to meaningfully improve the lives of tradespeople and the communities they serve.”
AJ Brown and Will Matson, Co-Chief Executive Officers, Apex Service Partners
“The Apex team has demonstrated the power of exceptional leadership and commitment to a clear, long-term vision: become the trusted partner of choice for the best local operators in the residential trades. AJ, Will and their team have delivered on that vision at a pace and scale that few thought possible in seven years, and the investment by the Apollo Funds is a recognition of the platform they have built. We are proud to continue supporting Apex in this next chapter of growth.”
Graham Weaver, Founder and CEO, Alpine Investors
“Apex is a market-leading platform with an impressive management team, strong local brands and a clear runway for continued growth. We see significant opportunity in essential services, and Apex exemplifies the type of high-quality business we seek to support with hybrid, partnership-oriented capital and the resources of the broader Apollo platform. We look forward to partnering with Alpine and the management team as Apex continues to invest in its people, capabilities, and customer experience.”
Munesh Advani, Managing Director, Apollo
