Antares has provided a credit facility to back Alpine Investors‘ investment in Frank Gay Services and Best Home Services to form Apex Services, an HVAC, plumbing and electrical services platform. No financial terms were disclosed.
CHICAGO–(BUSINESS WIRE)–Antares announced today that it served as sole lead arranger and is acting as administrative agent for a senior secured credit facility to support Alpine Investors’ (“Alpine”) investment in Frank Gay Services and Best Home Services to form Apex Service Partners, an HVAC, plumbing and electrical services platform.
Based in Orlando, FL, Frank Gay Services is a plumbing, HVAC, electrical and mechanical services company. Based in Naples, FL, Best Home Services is a nationally award-winning HVAC, plumbing, and electrical services and repairs company. Together the businesses form the foundation of Apex Service Partners and will continue to operate independently under their respective brands.
“Antares moved quickly in committing to and executing this transaction,” said Daniel Cohen, vice president of investing for Alpine Investors. “We were impressed with their sector knowledge and ability to support Apex as it continues to grow.”
“We are pleased to support the formation of Apex Service Partners in what was our first transaction with Alpine,” said Jason Quinn, vice president with Antares. “Both Frank Gay Services and Best Home Services have strong management teams and leading market positions within their respective geographies. With the additional support of Alpine, a sponsor with a demonstrated track record in the sector, they are well positioned to continue executing their growth strategies and further enhancing their customers’ experience.”
With approximately $24 billion of capital under management and administration as of December 31, 2018, Antares is a private debt credit manager and leading provider of financing solutions for middle-market private equity-backed transactions. In 2018, Antares issued nearly $25 billion in financing commitments to borrowers through its robust suite of products including first lien revolvers, term loans and delayed draw term loans, 2nd lien term loans, unitranche facilities and equity investments. Antares world-class capital markets experts hold relationships with over 400 banks and institutional investors allowing the firm to structure, distribute and trade syndicated loans on behalf of its customers. Since its founding in 1996, Antares has been recognized by industry organizations as a leading provider of middle market private debt, most recently being named the 2018 Lender of the Year by ACG New York. The company maintains offices in Atlanta, Chicago, Los Angeles, New York and Toronto. Visit Antares at www.antares.com or follow the company on Twitter at www.twitter.com/antarescapital. Antares Capital is a subsidiary of Antares Holdings LP, collectively (“Antares”).