Apex Service Partners
Backed by Alpine Investors
History & Strategy
Apex Service Partners was launched in 2019 by Alpine Investors with the acquisition of Frank Gay Services in Orlando. It has since grown to become one of the largest PE-backed home-services platforms in the country, with a $3.4 billion valuation as of October 2023. Mechanical One and Frank Gay Services serve the Tampa Bay area.
Business Model
Apex operates a decentralized partnership model, acquiring leading local HVAC, plumbing, and electrical companies while allowing them to maintain their brand identities and local management.
PE Backer: Alpine Investors
Alpine Investors is a San Francisco-based private equity firm with over $16 billion in AUM. Known for their PeopleFirst approach to investing in services and software companies.
Operational Practices
Decentralized operations with local brand retention, centralized procurement and technology, best practices sharing across partners, growth capital for expansion.
Tampa Bay Portfolio
Timeline
Apex Service Partners Launches with Frank Gay
Alpine Investors launches Apex Service Partners with the acquisition of Frank Gay Services in Orlando, creating what would become one of the nation's largest home-services platforms with Tampa Bay presence.
Apex Service Partners Valued at $3.4B
Alpine Investors closes a $3.4 billion single-asset continuation transaction for Apex Service Partners, highlighting the massive scale of PE investment in home services.