Key Takeaways
- • Apex Service Partners secures minority investment from Apollo Global Management at a $10 billion valuation, with Alpine Investors making an additional concurrent investment to support continued growth.
- • Deal structure positions Apollo as a minority stakeholder alongside existing investor Alpine, with both firms partnering with Apex's management team; financial terms undisclosed but market sources indicate Apollo's stake valued at approximately $2 billion.
- • Apex operates 75 local brands across 46 states with 13,000+ employees, serving over 16 million homes in residential HVAC, plumbing, and electrical services—positioning it as the nation's largest residential home services platform.
- • Capital infusion will fund Apex's next phase of growth and geographic expansion, leveraging the company's differentiated talent acquisition and development programs that have trained 8,000+ technicians and placed 300+ operating leaders across its portfolio.
- • Investment validates seven-year growth trajectory since Apex's 2019 founding, with co-CEOs AJ Brown and Will Matson emphasizing the company's people-centric platform strategy and industry-leading customer and employee net promoter scores as key competitive differentiators.
Summary
Apex Service Partners, the nation's largest residential HVAC, plumbing, and electrical services business, announced on May 28, 2026, that it has entered into a definitive agreement with Apollo Global Management whereby Apollo Funds will acquire a minority interest in the company. Existing investor Alpine Investors is simultaneously making an additional investment to support Apex's continued expansion. According to market sources, Apex is being valued at $10 billion in the transaction, with Apollo's stake valued at approximately $2 billion, though the company did not formally disclose financial terms.
The investment represents a significant milestone for the seven-year-old platform, which has grown substantially since its 2019 founding. Apex currently operates 75 prominent local brands across 46 states with over 13,000 employees and has served more than 16 million homes. The company has differentiated itself in the fragmented home services market through its talent acquisition and development programs, having trained over 8,000 technicians and placed more than 300 operating leaders across its portfolio companies. These initiatives have contributed to industry-leading customer and employee net promoter scores, addressing persistent labor challenges in the trades sector.
Co-Chief Executive Officers AJ Brown and Will Matson framed the investment as validation of Apex's foundational strategy. "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," the executives stated. They highlighted the platform and results achieved alongside Alpine as evidence that this people-first approach resonates with both technicians and homeowners across the country.
The capital infusion positions Apex to accelerate its next phase of growth, deepen its multi-trade capabilities, and expand its national footprint. Apollo's entry alongside Alpine's additional commitment underscores confidence in Apex's business model and market opportunity within the essential home services sector, a defensive industry segment that benefits from recurring revenue streams and aging residential infrastructure requiring continuous maintenance and upgrades.
The investment represents a significant milestone for the seven-year-old platform, which has grown substantially since its 2019 founding. Apex currently operates 75 prominent local brands across 46 states with over 13,000 employees and has served more than 16 million homes. The company has differentiated itself in the fragmented home services market through its talent acquisition and development programs, having trained over 8,000 technicians and placed more than 300 operating leaders across its portfolio companies. These initiatives have contributed to industry-leading customer and employee net promoter scores, addressing persistent labor challenges in the trades sector.
Co-Chief Executive Officers AJ Brown and Will Matson framed the investment as validation of Apex's foundational strategy. "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," the executives stated. They highlighted the platform and results achieved alongside Alpine as evidence that this people-first approach resonates with both technicians and homeowners across the country.
The capital infusion positions Apex to accelerate its next phase of growth, deepen its multi-trade capabilities, and expand its national footprint. Apollo's entry alongside Alpine's additional commitment underscores confidence in Apex's business model and market opportunity within the essential home services sector, a defensive industry segment that benefits from recurring revenue streams and aging residential infrastructure requiring continuous maintenance and upgrades.
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