Frank Gay Services
Plumbing / HVAC / Electrical · Orlando, Orange County by Frank Gay
About the company
Orlando-based residential and commercial plumbing, HVAC, electrical and mechanical services company founded by Frank Gay. It was one of the two founding businesses of Apex Service Partners, the Alpine Investors-backed platform that established its headquarters in Tampa.
Ownership history
What changed after the sale
Frank Gay Services continued operating under its own brand alongside Best Home Services of Naples. Frank Gay said Alpine's 'strong focus on people and relationships makes it stand out among financial firms, positioning Apex well to succeed in a competitive, high-touch industry like ours.' Terms were not disclosed; Orchard MB was the exclusive sell-side adviser.
Only sourced observations are listed. Customers and employees can add what they saw.
Who really profits
Money paid to Frank Gay Services now flows to Apex Service Partners (Tampa, FL), and from there to its investors — Alpine Investors, Apollo Global Management — whose funds are ultimately owed returns by their limited partners. Launched by Alpine Investors in July 2019 around two Florida founding companies, Best Home Services (Naples) and Frank Gay Services (Orlando), with an initial commitment of at least $100 million of equity over five years. Apex buys founder-owned residential HVAC, plumbing and electrical businesses and explicitly retains local brand identities rather than consolidating under one name, layering shared recruiting, training and back-office resources on top. By May 2026 it reported 75 local brands, 150+ locations in 46 states, 13,000+ employees and roughly $3 billion of annual revenue. Alpine describes the model as a repeat of the approach it used at Wrench Group before selling that platform to Investcorp in 2016.
Capital events at the platform level: 2019-07-29 recap — Alpine Investors forms Apex Service Partners from Best Home Services (Naples, FL) and Frank Gay Services (Orlando, FL), committing at least $100M of equity over five years; AJ Brown installed as CEO out of Alpine's CEO-in-Residence program.; 2023-10-25 recap — Alpine closes a $3.4 billion single-asset continuation vehicle for Apex — one of the largest ever in home services — led by Blackstone Strategic Partners, HarbourVest, Lexington Partners and Pantheon, with $450M from Alpine Fund IX. Provided liquidity to 2019-vintage Fund VII LPs. Apex had 8,000+ employees at the time.; 2026-05-28 recap — Apollo funds agree to acquire a minority stake in Apex alongside an additional investment from Alpine; Reuters-sourced reporting put the valuation near $10 billion. Apollo characterized it as hybrid, partnership-oriented capital. Expected to close Q4 2026.; 2019-07-29 recap — Platform formation; Alpine Investors committed at least $100 million of equity capital over five years; 2019-07-29 exit — Platform formation: Alpine Investors launched Apex Service Partners by combining Frank Gay Services and Best Home Services, committing at least $100 million of equity capital over five years.; 2026-05-28 new sponsor — Apollo-managed funds agreed to acquire a minority interest in Apex, with Alpine Investors making an additional investment; valuation undisclosed, expected to close in Q4 2026..
Read more: why prices rise after a sale · debt, exits and the 5-year clock.
Frequently asked
Who owns Frank Gay Services?
Frank Gay Services is owned by Apex Service Partners, a private-equity platform headquartered in Tampa, FL, whose capital has come from Alpine Investors and Apollo Global Management. The sale was announced July 29, 2019; the company still operates under its original name.
Is Frank Gay Services private equity owned?
Yes. Frank Gay Services is part of Apex Service Partners, which is backed by Alpine Investors and Apollo Global Management. See the buyer profile for the capital structure.
Is Frank Gay Services locally owned?
Not in the sense most homeowners mean. Control sits with Apex Service Partners in Tampa, FL, although the local brand name is still used.
When was Frank Gay Services sold?
July 29, 2019 (announcement date).
Did Frank Gay Services change its name after the sale?
No. Keeping the acquired brand name is standard practice for platforms; it preserves customer trust and reviews while ownership changes behind it.
Sources Verified — primary document
- Alpine Investors (2019-07-29) — press release. Sponsor's own release; Apex HQ Tampa, Frank Gay Orlando, Best Home Services Naples, $100M commitment
- ACHR News (2019-07-30) — trade press. Frank Gay quote, executives, Orchard MB adviser, terms undisclosed
- phcppros (2019-07-29) — trade press. Apex Tampa HQ, AJ Brown and Daniel Cohen quotes
- Contractor Magazine (2019-07-30) — trade press. Independent trade coverage
Researcher notes: Frank Gay Services is in Orange County, outside the seven-county Tampa Bay definition. Included because the transaction created Apex Service Partners, which is headquartered in Tampa and became one of the largest home-services acquirers operating out of the region.
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