Dallas-based Apex Service Partners—which calls itself America’s largest residential HVAC, plumbing, and electrical services business—announced that Apollo Funds will acquire a minority interest in Apex. Apollo Funds will partner with Apex’s management team and existing investor, Alpine Investors, which is also making an additional investment in Apex to support the company’s continued growth.
Financial terms of the transaction were not disclosed.
Apex recently relocated its headquarters from Tampa, Florida, to Dallas. The company was founded in 2019 with the goal of improving the home services industry by investing in tradespeople, supporting local brands, and delivering excellent service to customers.
Apex now operates 75 local brands across 46 states, with more than 13,000 employees serving over 16 million homes. The cultivation of its talent pipeline has supported more than 8,000 technicians and trained and placed some 300 operating leaders, contributing to its high scores from customers and employees, Apex said.
“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,” AJ Brown and Will Matson, co-CEOs of Apex, said in a joint statement. “The platform we’ve built alongside Alpine, and the results our teams have delivered for technicians and homeowners across the country, validate that belief.”
The co-CEOs added that 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.”
Impressive growth in residential trades
The investment will support the company as it continues to grow its national footprint, expand its multi-trade service offerings, and strengthen its technology and talent infrastructure, the company said.
“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,” said Graham Weaver, founder and CEO of Alpine Investors. “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.”
Apollo leaders also see the growth potential in Apex.
“Apex is a market-leading platform with an impressive management team, strong local brands and a clear runway for continued growth,” said Apollo Managing Director Munesh Advani. “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.”
Advani added that his firm looksforward to partnering with Alpine and the management team as Apex “continues to invest in its people, capabilities, and customer experience.”
The transaction is subject to customary closing conditions and is expected to be completed in the fourth quarter of 2026.
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