Apex Service Partners (“Apex” or the “company”), the nation’s largest residential HVAC, plumbing and electrical services business, and Alpine Investors (“Alpine”) today announced the completion of the previously announced strategic minority investment in Apex led by funds managed by affiliates of Apollo (“Apollo Funds”), alongside an additional investment from Alpine and Sixth Street.

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With the transaction complete, Apollo Funds will partner with Apex’s management team and Alpine to support the company’s next phase of growth as it continues to expand its national footprint, deepen its multi-trade service offerings, and advance its technology and talent infrastructure.

“Today’s close is a milestone for the Apex team and for everyone at Alpine who has worked alongside them since 2019. Our approach has stayed the same since 2019: back strong operators, invest in their people, and give them room to build something lasting. Apollo shares our belief in what this business can become, and we are glad to have them as a partner,” said Graham Weaver, Founder and CEO of Alpine Investors.

“This is a proud day for our teammates, who show up in customers’ homes every day and make Apex what it is. We are grateful to Alpine for building this business with us from the start, and we are glad to welcome Apollo as a partner. Together, we will keep investing in training, technology, and our local brands,” said AJ Brown and Will Matson, Co-Chief Executive Officers of Apex.

“Apex has built an impressive business with strong management and trusted local brands,” said Munesh Advani, Managing Director at Apollo. “Our partnership-oriented capital is well suited to support continued investment in the company’s workforce, service capabilities and customer experience. We look forward to working alongside Alpine and the management team in this next phase of growth.”

Goldman Sachs and Evercore acted as financial advisors and Kirkland & Ellis served as legal counsel to Apex and Alpine on the minority investment. Piper Sandler also advised Apex and Alpine. William Blair and J.P. Morgan served as financial advisors and Akin served as legal counsel to Apollo. Harris Williams served as a financial advisor and Latham & Watkins served as legal counsel to Sixth Street.

About Apex Service Partners

Founded in 2019, Apex Service Partners is the nationwide leader in residential home services – HVAC, plumbing, and electrical. As the fastest-growing home services platform, the Company operates in 46 states with +150 locations, +13,000 teammates and +$3B in annual revenue.

As part of Apex’s overarching mission, the Company is dedicated to leveraging the power of people. The organization strives to create exceptional career experiences and limitless opportunities for every teammate – whether mastering a front-line skilled trade, excelling in a vital support role, or serving in rapidly growing leadership roles. With 65% of its senior leaders coming from military backgrounds, the company is dedicated to helping veterans transition their incredible team building and leadership skills into successful careers in the skilled trades. In 2025, Apex was recognized as a Top Veteran-Friendly Employer by U.S. Veterans Magazine.

By combining strong local brands with the resources, support, and service-minded culture of a national organization, Apex helps service professionals thrive while delivering an outstanding customer experience—rooted in trust, professionalism, and service excellence.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2026, Apollo had approximately $1.05 trillion of assets under management. To learn more, please visit www.apollo.com.

About Alpine Investors

Alpine Investors is a people-driven private equity firm that is committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in companies in the software and services industries. Its PeopleFirst strategy includes a talent program that allows Alpine to bring leadership to situations where additional or new management is needed post-transaction. Alpine has $17.7 billion in assets under management as of June 30, 2026, and three offices in San Francisco, New York and Austin.

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