Imperial Capital Announces the Sale of Frontier Service Partners to Apex Service Partners

TORONTO, Jan. 24, 2024 /PRNewswire/ -- Imperial Capital has completed the sale of Frontier Service Partners to Apex Service Partners, who will be leading the next phase of growth for the premier Midwest home services brands of Haley Mechanical, Korte Does It All and AB May.

Founded in September of 2021, Frontier brought together three leading independent residential service businesses, beginning with the acquisition of Haley Mechanical in Ann Arbor, Michigan, Korte Does it All in Fort Wayne, Indiana and AB May in Kansas City, Missouri, building a leading position in the Midwest residential HVAC, plumbing, and electrical service industry.

After partnering with Frontier, and through investment in employee training, retention, customer service, and digital marketing, each brand saw tremendous growth in revenue and EBITDA, leading to a consolidated 31% organic brand-level EBITDA CAGR during Imperial's hold period. All owners remained as presidents of their respective brands and shareholders of Frontier, a key investment philosophy of the Frontier acquisition and management strategy.

"The partners we selected to form Frontier have been outstanding, and we are incredibly appreciative of their efforts and accomplishments over the past two years," said Eugene Polevoy, Principal, and deal partner at Imperial Capital. 

"By carefully selecting our brands and branch partners, and investing in the right spots in the business, it's remarkable what a group of industry leaders focused on retention, customer experience and culture can achieve," added Mr. Polevoy.

"We are grateful for our partnership with Eugene and Imperial Capital and are proud of what we have built and accomplished," said Henry Haley, Branch President at Haley Mechanical and Co-Founder of Frontier Service Partners. "Now, we are excited to be part of a larger team at Apex, which will allow us to leverage their enhanced and industry-leading scale, operational capabilities and expertise to continue to grow in the Midwest." 

The transaction closed January 23, 2024. TD Cowen acted as exclusive financial advisor and Torys LLP served as legal counsel to Frontier Service Partners and Imperial Capital. For more information, visit  www.imperialcap.com.

SOURCE Frontier Service Partners