Apex Service Partners acquires technology company

Apex Service Partners, the nation’s largest residential HVAC consolidator, has acquired three-year-old tech company HomeBreeze for an undisclosed sum, according to a press release.

What we know: HomeBreeze enables homeowners to get online quotes for water heater replacements, including available incentives and financing options, and coordinates installs with contractors.

• The company, which raised $3 million in funding in 2021, says it’s coordinated over 1,000 installations. 
• “This acquisition will expand Apex Service Partners’ footprint and capabilities in the home services market,” the release says. 

What we don’t: Exactly what Apex plans to do with the company. 

• No details on the strategy behind the deal were provided in the announcement, and Apex didn’t respond to a request for comment. 
• HomeBreeze declined to comment. 

Zoom out: The deal follows a similar move in 2019 when One Hour Heating & Air Conditioning parent Authority Brands acquired software company Successware, which it later rolled out to its franchises nationwide. 

What to watch for: Any announcements from Apex or HomeBreeze regarding future plans.