Trending...
- City of Long Beach Advises Registered Voters of Statewide Special Election This November - 1188
- Dental Arts of Oklahoma Unveils New Unified Website - 173
- California: What they are saying: Leaders throughout the state are applauding Governor Newsom's ongoing strategies to reduce homelessness - 162
Download
SAN FRANCISCO--(BUSINESS WIRE)--Alpine Investors ("Alpine"), a Certified B Corp people-driven private equity firm committed to building enduring software and services companies, today announced the completion of a $3.4 billion single-asset secondary market transaction to continue its partnership with Apex Service Partners ("Apex"), an HVAC, plumbing and electrical services leader and a portfolio company of Alpine Investors VII and VII-A ("Fund VII").
More on The Californer
Founded in 2019 and headquartered in Tampa, Florida, Apex is a residential HVAC, plumbing and electrical services platform that partners with leading providers across the country. With over 8,000 employees nationwide, Apex focuses on empowering its people to build a strong network of industry leaders who can share resources, best practices and expertise in order to deliver unparalleled service to customers.
The transaction is solely dedicated to the further expansion of Apex and underscores Alpine's commitment to facilitating the next stage of growth for the services platform, as well as Alpine's dedication to offering liquidity to its limited partners. The announcement follows the recent close of Alpine's latest fund, Alpine Investors IX ("Fund IX"), which reached the fund's hard cap of $4.5 billion of LP commitments. Fund IX invested $450 million in Apex alongside the continuation fund.
"Apex has a unique model that is built on combining leading brands with exceptional people," said Graham Weaver, Founder and CEO of Alpine Investors. "The result is that Apex creates outstanding experiences for its customers and continues to experience explosive growth. We believe the extraordinary people at Apex have only begun to scratch the surface of the market opportunity ahead of them. We are excited to continue supporting their growth and to have given our investors the opportunity to participate in this collaborative secondary process."
Commitments for Apex include contributions from Blackstone Strategic Partners, HarbourVest Partners, Lexington Partners, and Pantheon, as well as commitments from Alpine's Fund IX. Limited partners of Fund VII were able to receive liquidity for their 2019 investments or roll a portion of their investments into the continuation fund and remain stakeholders. In line with Alpine's investor-friendly process, limited partners were also given opportunities to combine their liquidity and rollover options to varying degrees based on their preferences.
"In just four years, Apex Service Partners has built a leading national business by serving as a force multiplier for the incredible employees and leading local brands within our platform," said AJ Brown, CEO of Apex Service Partners. "Alpine's support through its industry experience, resources and focus on people supercharged our growth while helping us hire, train and retain exceptional talent. They've been a true thought partner for us at each step in our journey and we're excited to continue to have them by our side as we seek to scale to new heights with the help of continued and new investors alike."
AJ Brown was part of Alpine's CEO-in-Residence program, and he previously served as CFO of construction software company Avitru, a former Alpine portfolio company. Apex President Will Matson is an additional example of recruiting through Alpine's talent programs, having been hired through its CEO-in-Training program. Both are excited to continue leading Apex during its next phase of growth.
More on The Californer
Evercore Inc. acted as the lead financial advisor along with J.P. Morgan and Cowen for the transaction and Kirkland & Ellis served as legal counsel to Alpine. Morrison Foerster served as debt counsel.
About Apex Service Partners
Apex Service Partners is a residential HVAC, plumbing and electrical services group whose goal is to partner with world-class service providers to build an industry leading national platform. Apex focuses on leveraging the power of people to build a strong network of industry leaders who can share resources, best practices and expertise in order to deliver unparalleled service to customers and opportunities for employees. To learn more about Apex Service Partners, please visit www.apexservicepartners.com (https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.apexservicepartners.com&esheet=53680352&newsitemid=20231025759806&lan=en-US&anchor=www.apexservicepartners.com&index=5&md5=a4107b1b6a182a5173e9952aeb9e4611).
About Alpine Investors
Alpine Investors (https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.alpineinvestors.com&esheet=53680352&newsitemid=20231025759806&lan=en-US&anchor=Alpine+Investors&index=6&md5=0413ab1116b14162d329da8e9e840bb5) is a people-driven private equity firm committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in the software and services industries. Alpine's 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 $16 billion in assets under management as of June 30, 2023, and has three offices in San Francisco, New York, and Salt Lake City.1 For more information, visit www.alpineinvestors.com (https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.alpineinvestors.com&esheet=53680352&newsitemid=20231025759806&lan=en-US&anchor=www.alpineinvestors.com&index=7&md5=29a460d4fa694efafa6c4203596145b1) and https://alpineinvestors.com/terms-conditions/ (https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Falpineinvestors.com%2Fterms-conditions%2F&esheet=53680352&newsitemid=20231025759806&lan=en-US&anchor=https%3A%2F%2Falpineinvestors.com%2Fterms-conditions%2F&index=8&md5=f3b6f6a6af156ea9d304c6825337a254) for full disclaimers including, but not limited to, third-party statements and certifications and Alpine Operations Group.
_____________________________
1 Inclusive of additional commitments to the continuation fund as of October 20, 2023 and fair market value as of June 30, 2023.
Contacts
Media
Audrey Harris
Head of Marketing
aharris@alpineinvestors.com
Sarah Braunstein
sbraunstein@sloanepr.com
0) { // Create container for hi-res image jQuery('#bw-release-hires').append('
'); }; }); ]]>
Contacts
Media
Audrey Harris
Head of Marketing
aharris@alpineinvestors.com
Sarah Braunstein
sbraunstein@sloanepr.com
SAN FRANCISCO--(BUSINESS WIRE)--Alpine Investors ("Alpine"), a Certified B Corp people-driven private equity firm committed to building enduring software and services companies, today announced the completion of a $3.4 billion single-asset secondary market transaction to continue its partnership with Apex Service Partners ("Apex"), an HVAC, plumbing and electrical services leader and a portfolio company of Alpine Investors VII and VII-A ("Fund VII").
More on The Californer
- Cassandra McClure Joins Forces with Andrew Mazotti to Elevate Napa Valley Car Club
- Cheapest Car Wash in Downey CA
- Aissist.io: Por qué fracasa el 80 % de los esfuerzos de IA y cómo los líderes pueden capturar ROI
- Century Fasteners de Mexico Hires Saúl Pedraza Gómez as Regional Sales Manager in Mexico
- On 175th anniversary of statehood, Governor Newsom delivers 2025 State of the State letter to California Legislature
Founded in 2019 and headquartered in Tampa, Florida, Apex is a residential HVAC, plumbing and electrical services platform that partners with leading providers across the country. With over 8,000 employees nationwide, Apex focuses on empowering its people to build a strong network of industry leaders who can share resources, best practices and expertise in order to deliver unparalleled service to customers.
The transaction is solely dedicated to the further expansion of Apex and underscores Alpine's commitment to facilitating the next stage of growth for the services platform, as well as Alpine's dedication to offering liquidity to its limited partners. The announcement follows the recent close of Alpine's latest fund, Alpine Investors IX ("Fund IX"), which reached the fund's hard cap of $4.5 billion of LP commitments. Fund IX invested $450 million in Apex alongside the continuation fund.
"Apex has a unique model that is built on combining leading brands with exceptional people," said Graham Weaver, Founder and CEO of Alpine Investors. "The result is that Apex creates outstanding experiences for its customers and continues to experience explosive growth. We believe the extraordinary people at Apex have only begun to scratch the surface of the market opportunity ahead of them. We are excited to continue supporting their growth and to have given our investors the opportunity to participate in this collaborative secondary process."
Commitments for Apex include contributions from Blackstone Strategic Partners, HarbourVest Partners, Lexington Partners, and Pantheon, as well as commitments from Alpine's Fund IX. Limited partners of Fund VII were able to receive liquidity for their 2019 investments or roll a portion of their investments into the continuation fund and remain stakeholders. In line with Alpine's investor-friendly process, limited partners were also given opportunities to combine their liquidity and rollover options to varying degrees based on their preferences.
"In just four years, Apex Service Partners has built a leading national business by serving as a force multiplier for the incredible employees and leading local brands within our platform," said AJ Brown, CEO of Apex Service Partners. "Alpine's support through its industry experience, resources and focus on people supercharged our growth while helping us hire, train and retain exceptional talent. They've been a true thought partner for us at each step in our journey and we're excited to continue to have them by our side as we seek to scale to new heights with the help of continued and new investors alike."
AJ Brown was part of Alpine's CEO-in-Residence program, and he previously served as CFO of construction software company Avitru, a former Alpine portfolio company. Apex President Will Matson is an additional example of recruiting through Alpine's talent programs, having been hired through its CEO-in-Training program. Both are excited to continue leading Apex during its next phase of growth.
More on The Californer
- Georgia Misses the Mark Again on Sports Betting, While Offshore Sites Cash In
- Greece Selects Long Beach as Location for Team House for 2028 Olympic and Paralympic Games
- Provident Healthcare Partners has represented WestStar Physical Therapy Network in its Recapitalization by Accord Asset Partners and Paras Capital Partners
- For Millions Shut Out of 911, a Lifeline Arrives: accesSOS Expands to 30 Languages
- Hollywood. Silicon Valley. Coachella. Tacos. Beaches. Need we say more? Happy 175th birthday, California!
Evercore Inc. acted as the lead financial advisor along with J.P. Morgan and Cowen for the transaction and Kirkland & Ellis served as legal counsel to Alpine. Morrison Foerster served as debt counsel.
About Apex Service Partners
Apex Service Partners is a residential HVAC, plumbing and electrical services group whose goal is to partner with world-class service providers to build an industry leading national platform. Apex focuses on leveraging the power of people to build a strong network of industry leaders who can share resources, best practices and expertise in order to deliver unparalleled service to customers and opportunities for employees. To learn more about Apex Service Partners, please visit www.apexservicepartners.com (https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.apexservicepartners.com&esheet=53680352&newsitemid=20231025759806&lan=en-US&anchor=www.apexservicepartners.com&index=5&md5=a4107b1b6a182a5173e9952aeb9e4611).
About Alpine Investors
Alpine Investors (https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.alpineinvestors.com&esheet=53680352&newsitemid=20231025759806&lan=en-US&anchor=Alpine+Investors&index=6&md5=0413ab1116b14162d329da8e9e840bb5) is a people-driven private equity firm committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in the software and services industries. Alpine's 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 $16 billion in assets under management as of June 30, 2023, and has three offices in San Francisco, New York, and Salt Lake City.1 For more information, visit www.alpineinvestors.com (https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.alpineinvestors.com&esheet=53680352&newsitemid=20231025759806&lan=en-US&anchor=www.alpineinvestors.com&index=7&md5=29a460d4fa694efafa6c4203596145b1) and https://alpineinvestors.com/terms-conditions/ (https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Falpineinvestors.com%2Fterms-conditions%2F&esheet=53680352&newsitemid=20231025759806&lan=en-US&anchor=https%3A%2F%2Falpineinvestors.com%2Fterms-conditions%2F&index=8&md5=f3b6f6a6af156ea9d304c6825337a254) for full disclaimers including, but not limited to, third-party statements and certifications and Alpine Operations Group.
_____________________________
1 Inclusive of additional commitments to the continuation fund as of October 20, 2023 and fair market value as of June 30, 2023.
Contacts
Media
Audrey Harris
Head of Marketing
aharris@alpineinvestors.com
Sarah Braunstein
sbraunstein@sloanepr.com
0) { // Create container for hi-res image jQuery('#bw-release-hires').append('
'); }; }); ]]>
Contacts
Media
Audrey Harris
Head of Marketing
aharris@alpineinvestors.com
Sarah Braunstein
sbraunstein@sloanepr.com
Filed Under: Business
0 Comments
Latest on The Californer
- Los Angeles Critical Mass to Feature Live Performance by "Hey Solo" on September 26, 2025
- Black Film as Protest Film Series Opens with Dewayne LeBlanc
- Global Travel Conference Returns to Long Beach Convention Center
- Tryfacta Expands Leadership Team with Douglas Leach as Associate Director of Client Development
- Ship Overseas Inc Partners with Major US Car Auctions to Streamline Vehicle Exports for Global Buyes
- El Gobernador Newsom emite un comunicado sobre la decisión de la Corte Suprema que apoya los arrestos por motivos raciales en el sur de California
- Long Beach: City to Celebrate Grand Opening of Silverado Park Signature Playground
- Aechelon and Partners Niantic Spatial, ICEYE, BlackSky and Distance Debut Project Orbion: the First AI-Enabled Digital Twin of the Earth
- The Media Futurists Podcast Reimagines the Future of Storytelling and Tech
- READ Global Named Library of Congress Literacy Awards Honoree
- California: Welcome back! Visa brings flagship global conference back to San Francisco from Texas
- Governor Newsom issues statement on the Supreme Court's ruling to uphold racially motivated immigration arrests in Southern California
- THINKWARE Unveils ARC700 Dash Cam: Next-Gen Clarity and Control in a Dual-Channel 4K System
- iPOP Alum Matt Cornett Starring in Prime Video Original Series "Every Year After"
- Car Wash in Downey CA Stays Open Late Offering Convenience Until 11 PM
- AGEIMMUNE Launches Brilliant D3 + Magnesium & K2: A Doctor-Formulated Supplement for Bone, Immune & Heart Health Support
- WACO Theater Center Announces Still Here Live Experience In Los Angeles Supported By Gilead Sciences, Inc.
- California: Statement from Governor's Office on transit funding
- YMCA of the Jersey Shore Helps Residents Take Control of Health
- Flexi View Lending Successfully Funds $45.7 Million Ground-Up Construction Loan in Atlanta, GA