Alpine Investors, a private equity firm known for its people-first approach to building enduring companies, has announced the launch of Apex Service Partners. This new platform is set to revolutionize the home and commercial services industry by partnering with leading companies in the HVAC, plumbing, and electrical sectors. The announcement coincides with Apex’s initial partnerships with Frank Gay Services, a prominent Orlando, Florida-based service provider, and Best Home Services, an award-winning company from Naples, Florida. This strategic move signals Alpine’s commitment to creating a dominant force in the fragmented home services market.
Apex Service Partners is designed as a collaborative network of top-tier service businesses. The platform’s core mission is to unite industry leaders, enabling them to share resources, implement best practices, and leverage collective expertise. This synergistic approach aims to elevate service delivery to customers and unlock enhanced career opportunities for employees within the partner companies. While operating under the Apex umbrella, Frank Gay Services and Best Home Services will maintain their individual brand identities and operational independence, ensuring the preservation of their established reputations and customer relationships.
Daniel Cohen, Vice President at Alpine Investors, highlighted the firm’s deep understanding of the home services landscape. “Alpine brings significant experience in the HVAC, plumbing, and electrical services space, and we are eager to utilize our expertise to rapidly scale Apex into a market-leading entity,” Cohen stated. He emphasized the strong reputations of Best Home Services and Frank Gay Services, noting that their integration into Apex creates an attractive proposition for other founder-led businesses seeking a growth-oriented partnership. The platform offers a unique blend of operational support and financial investment, positioning itself as a premier destination for companies looking to expand their market presence and service capabilities.
Alpine Investors is making a substantial financial commitment to Apex Service Partners, earmarking at least $100 million in equity capital for investment in founder-owned companies over the next five years. This significant capital infusion will fuel Apex’s growth strategy, aimed at establishing a nationwide leadership position. The firm’s successful track record in the sector is underscored by its previous venture, the Wrench Group. Employing a similar strategy, Alpine cultivated the Wrench Group into a high-growth HVAC and plumbing services platform with revenues exceeding $150 million, culminating in its acquisition by Investcorp in 2016. This prior success provides a proven blueprint for Apex Service Partners’ ambitious growth trajectory.
AJ Brown, CEO of Apex Service Partners, based in Tampa, Florida, articulated the platform’s strategic vision within the home and commercial services market. “The home and commercial services market is characterized by fragmentation, presenting Apex with a significant opportunity to bolster already successful companies and accelerate their growth through our resources and support,” Brown explained. He emphasized the tangible benefits for partner businesses, including access to leading industry operators’ expertise and capital for infrastructure development, team investment, advanced equipment acquisition, and enhanced technician training programs. Ultimately, these investments are geared towards enriching both customer experiences and employee career paths within the Apex network.
Will Matson, Head of M&A and CFO of Apex, joins Brown in leading the platform’s expansion efforts. Business owners within the HVAC, plumbing, and electrical services industries who are interested in exploring partnership opportunities with Apex Service Partners are encouraged to reach out to Will Matson directly.
Frank Gay, Founder of Frank Gay Services, shared his perspective on the partnership with Apex and Alpine Investors. “In an industry so heavily reliant on customer relationships, leadership transitions can be challenging,” Gay acknowledged. He emphasized Alpine’s distinctive focus on people and relationships as a key differentiator among financial firms. This people-centric approach, according to Gay, uniquely positions Apex for success in the competitive and customer-focused home services sector. He expressed enthusiasm for the future prospects of Frank Gay Services under the Apex partnership and with Alpine’s backing.
Orchard MB served as the exclusive transaction advisor to Frank Gay Services, facilitating the successful partnership with Apex Service Partners.
About Apex Service Partners
Apex Service Partners is an HVAC, plumbing, and electrical services group dedicated to partnering with world-class service providers. The company’s mission is to create a national platform that leads the industry by fostering a robust network of industry experts. Apex leverages the collective strength of its partners to share resources, implement best practices, and exchange expertise, ultimately delivering superior service to customers and expanded opportunities for employees.
About Alpine Investors
Alpine Investors is a people-driven private equity firm committed to building enduring companies by fostering the growth and development of exceptional individuals. Specializing in middle-market companies within the software and services sectors, Alpine employs its signature PeopleFirst strategy. This approach includes a CEO-in-Residence program, proactively partnering with CEOs and integrating them into companies as part of the investment process. This model provides a unique solution for businesses seeking leadership transitions or enhanced management expertise post-transaction.
About Best Home Services
Established in 1980 as a family-owned electrical services business, Best Home Services has expanded its offerings to include comprehensive HVAC and plumbing services and repairs. Led by brothers Chadd and Keegan Hodges, Best Home Services operates across Southwest Florida, with its headquarters in Naples and additional offices in Sarasota and Fort Myers. The company is committed to delivering best-in-class home services, earning national recognition for its growth and exceptional customer service. Best Home Services employs approximately 300 full-time professionals, including certified technicians dedicated to providing simple, flexible, and trustworthy service. The company specializes in residential service work, ensuring homeowners receive top-quality solutions.
About Frank Gay Services
Frank Gay Services was founded in 1981 as a sole proprietorship focused on plumbing services. Through organic growth and a commitment to excellence, the company has evolved into one of Central Florida’s largest and most respected service contractors. Frank Gay Services provides a comprehensive range of plumbing, HVAC, and electrical services to residential, commercial, and municipal clients. Built on a foundation of strong work ethic, integrity, and a team of exceptional professionals, Frank Gay Services consistently surpasses the competition. Headquartered in Orlando, with a satellite office in Tampa, the company operates a fleet of 140 service vehicles and employs 175 full-time staff. Frank Gay Services is strategically positioned for continued expansion and success in the years ahead.
