Platform formationverified
Alpine Investors forms Apex Service Partners from two Florida contractors
What happened. Alpine Investors launched Apex Service Partners around Best Home Services of Naples and Frank Gay Services of Orlando, committing at least $100 million of equity over five years to buy founder-owned HVAC, plumbing and electrical businesses. AJ Brown, previously CFO of Alpine portfolio company Avitru and an Alpine CEO-in-Residence, was installed as CEO, with Will Matson joining as head of M&A and CFO. Alpine cited its prior buildout of Wrench Group, which it grew past $150 million of revenue before selling to Investcorp in 2016. Apex is headquartered in Tampa.
Parties
- Company
- Buyer
- Apex Service Partners
- Capital
- Alpine Investors
- Price
- Not disclosed
Other Tampa Bay brands under Apex Service Partners: Frank Gay Services.
What this kind of deal tends to mean for customers and staff: pricing · sales pressure · technicians · the exit clock.
Sources Verified — primary document
- Alpine Investors (2019-07-29) — press release. Primary announcement
- phcppros (2019-07-29) — trade press. Trade coverage of the launch
Researcher notes: Founding companies are in Naples and Orlando, outside the Tampa Bay MSA; the Tampa nexus is the platform headquarters.
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