Alpine Investors Supports Growth of Apex Service Partners with $3.4 Billion Investment

Apex Service Partners, a residential HVAC, plumbing, and electrical services platform, is set to experience continued growth with the support of a $3.4 billion investment from Alpine Investors. The private equity firm recently closed a single-asset secondary market transaction dedicated to further expanding Apex's operations.

Founded in 2019 and based in Tampa, Florida, Apex partners with leading providers across the country to deliver exceptional service to customers. The company's model is built on combining leading brands with exceptional people, allowing for the creation of outstanding experiences and explosive growth. With over 8,000 employees nationwide, Apex is focused on empowering its network of industry leaders to share resources, best practices, and expertise.

Alpine Investors, a Certified B Corp people-driven private equity firm, is committed to building enduring software and services companies. The firm's $3.4 billion investment in Apex highlights its dedication to facilitating growth in the services platform. The transaction also demonstrates Alpine's commitment to offering liquidity to its limited partners.

Alpine Investors recently closed its latest fund, Alpine Investors IX, which reached its hard cap of $4.5 billion in LP commitments. Fund IX invested $450 million in Apex alongside the continuation fund. The participation of leading financial institutions such as Blackstone Strategic Partners, HarbourVest Partners, Lexington Partners, and Pantheon further reinforces the confidence in Apex's potential.

Limited partners of Alpine Investors VII had the opportunity to receive liquidity for their 2019 investments or roll a portion of their investments into the continuation fund. This investor-friendly process allowed limited partners to choose liquidity and rollover options based on their preferences.

Graham Weaver, Founder and CEO of Alpine Investors, expressed his belief in Apex's model and its potential for market growth. He praised Apex's outstanding people and their ability to provide exceptional service to customers. Weaver emphasized Alpine's excitement about supporting Apex's growth and providing opportunities for investors to participate in the collaborative secondary process.

AJ Brown, CEO of Apex Service Partners, highlighted the company's success in building a leading national business in just four years. He credited Alpine's support, industry experience, resources, and focus on people as key factors in supercharging Apex's growth. Brown expressed his excitement about continuing to have Alpine by their side as they seek to scale to new heights with the help of current and new investors.

The transaction was facilitated by Evercore Inc. as the lead financial advisor, along with J.P. Morgan and Cowen. Kirkland & Ellis served as legal counsel to Alpine, and Morrison Foerster served as debt counsel.

About Apex Service Partners

Apex Service Partners is a residential HVAC, plumbing, and electrical services group that aims to partner with world-class service providers to build an industry-leading national platform. The company focuses on leveraging the power of people to create a strong network of industry leaders. This network enables the sharing of resources, best practices, and expertise to deliver unparalleled service to customers and provide opportunities for employees. To learn more about Apex Service Partners, visit their official website.

About Alpine Investors

Alpine Investors is a people-driven private equity firm committed to building enduring companies by working with, learning from, and developing exceptional people. The firm specializes in investments in the software and services industries. Alpine's PeopleFirst strategy includes a talent program that allows them to bring leadership to situations where additional or new management is needed post-transaction. With $16 billion in assets under management as of June 30, 2023, Alpine has three offices in San Francisco, New York, and Salt Lake City. For more information, visit their official website and read their full disclaimers.

In conclusion, the $3.4 billion investment from Alpine Investors in Apex Service Partners is set to drive further growth and expansion for the residential services platform. With the support of leading financial institutions and Alpine's commitment to offering liquidity to its limited partners, Apex is well-positioned to continue providing exceptional service to customers and opportunities for employees.