The deal
Funds managed by affiliates of Apollo have agreed to acquire a minority interest in Apex Service Partners, a Dallas-based residential HVAC, plumbing and electrical platform. Alpine Investors, an Apex investor since 2019, will also invest more. Terms were not disclosed.
Apex was founded in 2019 and now operates 75 local brands in 46 states from more than 150 locations, with more than 13,000 employees. It is led by co-CEOs AJ Brown and Will Matson.
The investment is expected to close in the fourth quarter of 2026, subject to customary conditions.
Big investors are still putting new money into residential services platforms, and that money mostly goes to buying more local companies. For owners, the takeaway is simple: the largest buyers in the industry are well funded and still growing. That keeps demand high for well-run local businesses.
What this means if you own a home service company
- Buyers are well funded. New capital at the platform level means more acquisitions at the local level.
- Big isn't always best. The largest buyer isn't automatically the right fit for your team or goals.
- Compare buyer models. Some platforms rebrand, others keep local names. Ask before you choose.
Source: Apollo announcement, May 28, 2026. Summary and analysis by V2 Strategy Advisors.