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Alpine Investors

Verified

Pe Firm

Alpine Investors logo
San Francisco, CA, US Founded 2001 Website

San Francisco PE firm; lead sponsor of Apex Service Partners and Astra Service Partners. Closed a $3.4B single-asset continuation transaction for Apex in Oct 2023.

Headquarters

US hq by state Alaska: no recorded hq Alabama: no recorded hq Arkansas: no recorded hq Arizona: no recorded hq California: 1 hq Colorado: no recorded hq Connecticut: no recorded hq District of Columbia: no recorded hq Delaware: no recorded hq Florida: no recorded hq Georgia: no recorded hq Hawaii: no recorded hq Iowa: no recorded hq Idaho: no recorded hq Illinois: no recorded hq Indiana: no recorded hq Kansas: no recorded hq Kentucky: no recorded hq Louisiana: no recorded hq Massachusetts: no recorded hq Maryland: no recorded hq Maine: no recorded hq Michigan: no recorded hq Minnesota: no recorded hq Missouri: no recorded hq Mississippi: no recorded hq Montana: no recorded hq North Carolina: no recorded hq North Dakota: no recorded hq Nebraska: no recorded hq New Hampshire: no recorded hq New Jersey: no recorded hq New Mexico: no recorded hq Nevada: no recorded hq New York: no recorded hq Ohio: no recorded hq Oklahoma: no recorded hq Oregon: no recorded hq Pennsylvania: no recorded hq Rhode Island: no recorded hq South Carolina: no recorded hq South Dakota: no recorded hq Tennessee: no recorded hq Texas: no recorded hq Utah: no recorded hq Virginia: no recorded hq Vermont: no recorded hq Washington: no recorded hq Wisconsin: no recorded hq West Virginia: no recorded hq Wyoming: no recorded hq
Headquarters: San Francisco, CA, US.

Ownership map

Ownership links are documented, evidence-gated edges, shown as reported by their sources. Naming a company is not an accusation against it. See our methodology and legal notes.

Ownership map for Alpine InvestorsDivestedbacked bybacked bybacked bybacked byparent ofparent ofparent ofrolled up intorolled up intorolled up intoAll About Water: Operating CompanyAll About WaterAlpine Investors: Pe FirmAlpine InvestorsApex Service Partners: PlatformApex Service PartnersApollo Global Management: Pe FirmApollo Global Managem…Baker Brothers: Operating CompanyBaker BrothersBest Home Services: Operating CompanyBest Home ServicesBoothe's Heating, Air & Plumbing: Operating CompanyBSBoothe's Heating, Air…Buckeye Heating & Cooling: Operating CompanyBuckeye Heating & Coo…Champions Group: PlatformCGChampions GroupCollins Comfort Masters: Operating CompanyCollins Comfort Maste…CoolToday: Operating CompanyCOCoolTodayCoolray Heating & Cooling: Operating CompanyCoolray Heating & Coo…Donovan Heat and Air: Operating CompanyDonovan Heat and AirEasy A/C: Operating CompanyEAEasy A/CFlorida Cool Inc.: Operating CompanyFCFlorida Cool Inc.Frank Gay Services: Operating CompanyFrank Gay ServicesFrontier Service Partners: PlatformFSFrontier Service Part…Heritage Home Service: PlatformHHHeritage Home ServiceInvestcorp: Pe FirmINInvestcorpLeonard Green & Partners: Pe FirmLGLeonard Green & Partn…NexGen Air Conditioning & Plumbing: Operating CompanyNANexGen Air Conditioni…Owyhee Heating & Air Conditioning: Operating CompanyOwyhee Heating & Air …Parker & Sons: Operating CompanyParker & SonsRight Now Heating, Cooling and Plumbing: Operating CompanyRight Now Heating, Co…Superior Service: PlatformSSSuperior ServiceWilliams Comfort Air: PlatformWilliams Comfort AirWrench Group: PlatformWrench Group
Operating CompanyPe FirmPlatform

Ownership

Ownership links are documented, evidence-gated edges, shown as reported by their sources. A verified mark denotes an independently corroborated edge; links shown as reported are drawn as their sources record them and are not independently corroborated. Naming a company is not an accusation against it. See our methodology and legal notes.

Market signals

Acquisition history

Acquisition timeline201920202021202220232024202520262019 · Platform creation → Apex Service Partners (verified)2019 · Platform creation → Frank Gay Services2020 · Majority stake → Wrench Group2023 · Continuation fund → Apex Service Partners (verified)2024 · Add-on acquisition → Frontier Service Partners (verified)2026 · Minority stake → Apex Service Partners
6 recorded deals, 2019–2026verifiedunverified

Acquisition footprint

US acquired companies by state Alaska: no recorded acquired companies Alabama: no recorded acquired companies Arkansas: no recorded acquired companies Arizona: no recorded acquired companies California: no recorded acquired companies Colorado: no recorded acquired companies Connecticut: no recorded acquired companies District of Columbia: no recorded acquired companies Delaware: no recorded acquired companies Florida: 4 acquired companies Georgia: 1 acquired companies Hawaii: no recorded acquired companies Iowa: no recorded acquired companies Idaho: no recorded acquired companies Illinois: no recorded acquired companies Indiana: no recorded acquired companies Kansas: no recorded acquired companies Kentucky: no recorded acquired companies Louisiana: no recorded acquired companies Massachusetts: no recorded acquired companies Maryland: no recorded acquired companies Maine: no recorded acquired companies Michigan: 1 acquired companies Minnesota: no recorded acquired companies Missouri: no recorded acquired companies Mississippi: no recorded acquired companies Montana: no recorded acquired companies North Carolina: no recorded acquired companies North Dakota: no recorded acquired companies Nebraska: no recorded acquired companies New Hampshire: no recorded acquired companies New Jersey: no recorded acquired companies New Mexico: no recorded acquired companies Nevada: no recorded acquired companies New York: no recorded acquired companies Ohio: no recorded acquired companies Oklahoma: no recorded acquired companies Oregon: no recorded acquired companies Pennsylvania: no recorded acquired companies Rhode Island: no recorded acquired companies South Carolina: no recorded acquired companies South Dakota: no recorded acquired companies Tennessee: no recorded acquired companies Texas: no recorded acquired companies Utah: no recorded acquired companies Virginia: no recorded acquired companies Vermont: no recorded acquired companies Washington: no recorded acquired companies Wisconsin: no recorded acquired companies West Virginia: no recorded acquired companies Wyoming: no recorded acquired companies
  1. 1. Florida 4
  2. 2. Georgia 1
  3. 3. Michigan 1
1–4 5–14 15–39 40–79 80+ no recorded acquired companies
Where the brands Alpine Investors acquired are headquartered, by US state. A count of targets, not a market-share claim.

Deals

Minority stake May 2026

Apollo Funds acquires a strategic minority interest in Apex Service Partners

Apollo Global Management → Apex Service Partners
$2B reported as reported by homepros.news
Add-on acquisition Jan 2024
Verified

Apex Service Partners acquires Frontier Service Partners from Imperial Capital

Apex Service Partners → Frontier Service Partners
Platform creation Jul 2019
Verified

Alpine Investors launches Apex Service Partners

Alpine Investors → Apex Service Partners
Continuation fund Oct 2023
Verified

Alpine Investors $3.4B single-asset continuation of Apex Service Partners

→ Apex Service Partners
$3.4Bdisclosedas reported by businesswire.com
Platform creation Jul 2019

Alpine Investors launches Apex Service Partners platform via Frank Gay Services partnership

Apex Service Partners → Frank Gay Services
Majority stake Feb 2020

Wrench Group sold to Investcorp in 2016

Investcorp → Wrench Group

Related news

  • Alpine Investors' 2024 Year-in-ReviewVerified
    alpineinvestors.com· Feb 24, 2025

    Alpine Investors' 2024 year-in-review highlights a record-breaking year with 175 deals closed, $18B in AUM, and two new platform companies launched. The firm also emphasizes its commitment to being a top workplace, talent programs, ESG initiatives, and diversity, equity, and inclusion efforts. The article notes awards received and community giving activities.

  • Alpine Closes $3.4 Billion Single-Asset Continuation Transaction to Support Apex GrowthVerified
    alpineinvestors.com· Oct 25, 2023

    Alpine Investors closed a $3.4 billion single-asset continuation transaction to support the growth of Apex Service Partners, a residential HVAC, plumbing and electrical services platform. The transaction is solely dedicated to Apex's expansion and provides liquidity to Alpine's limited partners. Commitments include contributions from Blackstone Strategic Partners, HarbourVest Partners, Lexington Partners, and Pantheon, as well as Alpine's Fund IX.

  • Alpine Closes Third Home Services BuyVerified
    peprofessional.com· Oct 1, 2019

    Alpine Investors closed its third home services acquisition for its Apex Service Partners platform, acquiring Southern Air, a Tampa-based HVAC, plumbing and electrical services company. The platform was launched in July 2019 to consolidate Alpine's investments in the home services sector. Alpine plans to invest at least $100 million of equity in HVAC, plumbing and electrical services companies over the next five years to build Apex into a national leader.

  • Alpine Launches Apex Service PartnersVerified
    alpineinvestors.com· Jul 19, 2019

    Alpine Investors announced the launch of Apex Service Partners, a new platform in the HVAC, plumbing, and electrical services industry. The platform is founded on the combination of Best Home Services and Frank Gay Services, with Alpine planning to invest at least $100 million of equity capital in founder-owned companies over five years. Alpine previously applied a similar strategy with the Wrench Group, which was sold in 2016.

  • Investcorp Partners with The Wrench GroupVerified
    investcorp.com· Mar 3, 2016

    Investcorp announced a majority investment in The Wrench Group, a provider of HVAC, plumbing, and electrical services. The company was formerly controlled by Alpine Investors, Skylight Capital, and management. The article notes that management will continue in their roles and retain a meaningful interest in the company.