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Alpine Investors announced it has partnered with Frank Gay Services, a plumbing, HVAC, electrical and mechanical services company based in Orlando.
Frank Gay joins Best Home Services, a nationally award-winning HVAC, plumbing, and electrical services and repairs company based in Naples, Florida, to serve as the foundation of Apex Service Partners, Alpine’s new platform that will be a partnership of the leading home and commercial services companies. The businesses will continue to operate independently under their respective brands.
“Alpine has extensive experience in the HVAC, plumbing, and electrical services space and we are excited to apply our expertise to quickly grow Apex into a market leader,” said Daniel Cohen, vice president at Alpine. "Best and Frank Gay have exceptional reputations in the industry. Bringing them together makes Apex an attractive home for other founders who are looking for a growth partner for their businesses.”
Alpine plans to invest at least $100 million of equity capital in founder-owned companies over the next five years to build Apex into a national leader. The firm applied a similar strategy successfully in what later became known as the Wrench Group, an HVAC and plumbing services platform serving the Atlanta, Dallas, Houston and Phoenix markets, which grew to over $150 million in revenues and was subsequently sold to Investcorp in 2016.
“Home and commercial services is a fragmented market where Apex can further strengthen already great companies to accelerate growth with our resources and support,” said AJ Brown, CEO of Apex, which is headquartered in Tampa, Florida. “As part of the Apex partnership, these businesses will be able to leverage the expertise of some of the best operators in the country as well as have access to capital to build new facilities, invest in their teams, provide the best possible equipment and training for technicians, and ultimately, enhance their customers’ experience and employees’ career opportunities.”
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