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Business Observer Friday, Jul. 5, 2019 1 week ago

Area HVAC firm plans statewide expansion behind private equity

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Partnership with Alpine Investors will enhance Best Home Services’ expansion efforts.

NAPLES — Best Home Services, a family-owned HVAC plumbing and electrical service and repair business based in Naples, has received an investment from San Francisco-based Alpine Investors, a middle market private equity firm that specializes in technology and service industries.

The investment will provide the resources and expertise to enhance the 39-year-old company’s statewide expansion efforts, according to a statement. 

Under the partnership, Best will continue to be led by co-CEOs and brothers, Chadd and Keegan Hodges, and operate independently under its own brand. Financial terms of the deal were not disclosed.

"We're excited about the growth opportunity presented by the partnership with Alpine and their rich experience in the HVAC space,” says Keegan Hodges in the statement. Adds Chadd Hodges."We will now be able to more rapidly expand the business throughout Florida, invest in new facilities and equipment and further improve our leading brand and working environment.”

Best Home Services was founded in 1980 by Perry and Marilyn Hodges. Their sons assumed ownership of the company in 2009. With offices in Sarasota and Fort Myers, Best employs approximately 300.

"Alpine has been a supporter of the HVAC space for almost a decade,” says Alpine Investors vice president Daniel Cohen in the statement. “We are excited to have found a great partner in Best that has an excellent reputation for service, is growth oriented and aligns with our people first philosophy.”

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