Apollo Leads Minority Investment in Apex Service Partners

Apollo funds have led a strategic minority investment in Apex Service Partners, with Alpine Investors and Sixth Street adding capital, the companies announced. The deal puts fresh institutional money behind a residential HVAC, plumbing and electrical services platform that already spans 46 states.

Apex generates more than $3 billion in annual revenue. It operates more than 150 locations, employs more than 13,000 people, and has grown from its 2019 founding into a nationwide home services platform.

What does the investment fund?

Apex will use the backing to expand its national footprint, broaden its multi-trade capabilities, and invest further in technology and workforce development. Apollo Funds will work with Apex's management team and Alpine to support the company's next phase of expansion.

The model is built on local brands. Apex plans to continue investing in local operating brands while providing centralized resources, technology, training, and talent development capabilities. The platform gives independent service companies scale advantages without dissolving their local identities.

Who said what?

Graham Weaver, Founder and CEO of Alpine Investors, said: "Our approach has stayed the same since 2019: back strong operators, invest in their people, and give them room to build something lasting."

AJ Brown and Will Matson, Co-Chief Executive Officers of Apex Service Partners, said: "Together, we will keep investing in training, technology, and our local brands."

Munesh Advani, Managing Director at Apollo, said: "Our partnership-oriented capital is well suited to support continued investment in the company's workforce, service capabilities and customer experience."

Why does the military connection matter?

Roughly 65% of Apex's senior leaders come from military backgrounds. The company has built programs intended to help veterans transition their leadership and team-building experience into careers in skilled trades. That pipeline addresses a persistent labor shortage in home services, where experienced technicians are the scarce input that limits growth for most operators.

Who is backing whom?

Alpine Investors has backed Apex since 2019 and will remain an investor following the transaction. Alpine reported $17.7 billion in assets under management as of June 30, 2026. Apollo managed approximately $1.05 trillion in assets as of the same date, making it by far the largest capital partner at the table.

Which advisors worked the deal?

The transaction attracted a large advisor bench:

• Goldman Sachs and Evercore served as financial advisors to Apex and Alpine, with Piper Sandler also advising them.
• Kirkland & Ellis provided legal counsel to Apex and Alpine.
• William Blair and J.P. Morgan advised Apollo financially, with Akin serving as legal counsel.
• Harris Williams advised Sixth Street, with Latham & Watkins as its legal counsel.

The size of that roster signals deal complexity and the strategic weight each party places on the transaction. Six financial advisory firms on a single minority investment is unusual.

What comes next?

The structure leaves Alpine in place and adds Apollo as a growth partner, which suggests a longer consolidation runway rather than a quick exit. With more than $3 billion in revenue and operations in 46 states, Apex has the scale to keep acquiring local service brands while Apollo's capital and Sixth Street's flexibility fund the next stage of the buildout.