Best Home Services has come a long way from its humble beginnings in 1980 as a small family-owned electrical company. Over the years the company has not only added heating, cooling, and plumbing services to its list of specialties but now there is also an ambitious expansion plan on the books.
Making a Deal
Headquartered in Naples, the business already has offices in Fort Myers, Sarasota, and Tampa with more than 200 employees. In June, Best Home Services Co-CEO’s and brothers, Chadd and Keegan Hodges, brokered a deal with Alpine Investors in San Francisco giving them more than $100 million dollars to expand throughout Florida and the United States.
Keegan explains, “From that partnership, we formed a company called Apex Service with the plan and vision of buying companies across the U.S. that are like Best Home, large platform companies.”
Best Home is the platform company for the state of Florida and its first acquisition is Frank Gay Services in Orlando. The commercial heating and air conditioning company began in 1981 as a one-man plumbing business and now has 175 employees.
Now as part of Best Home Services, the Orlando company will be able to not only expand its commercial side but also add residential services. The result of the acquisition is the creation of one of the largest air conditioning companies in Florida.
Keegan says, “We had a vision that we could be much larger than where we are in Southwest Florida. We know there are other like-minded business owners that see the value of joining a group, so if we partner with the right ones, we would have their expertise and capital to be the largest in Florida. Likewise, we partner with others outside to be largest in each of the other states where we are looking to expand.”
The value to those businesses includes things such as de-leveraging risk. Keegan explains, “You get to a certain size or you’re a certain age in life, this is a way to reduce risk and it also provides a pathway to retirement. There is power in numbers.” In addition, “Forming a group, with the size that we would have and how geographically diverse it is, would also make us nearly recession-proof.”
Enter Apex, where negotiations are underway for the first out of state acquisitions. Keegan says, “There is only one other company in the U.S. that does what we are doing.”
The Hodges brothers are seeking out of state businesses that operate under a similar culture and with similar values as Best Home. Once these businesses are acquired by Apex, they will continue to operate independently but will have more opportunity to grow. Keegan says, “They’ve already become a market leader and will remain doing business as they were. Our goal is to get eight different platforms around the country.”
The expansion of Best Home Services doesn’t just lie in acquiring more business, but also in building a new 65,000 square-foot headquarters off Alico Road, more than three times the size of their current corporate office. The new space will also pave the way for 200 new jobs over the next two years.
As Best Home Services continues to grow and expand, the company still holds true to its mission of providing outstanding service to the residents and business owners of Southwest Florida. A family-owned company, Best Home treats their staff like family too and it trickles down to the customer.
The call center is open seven days a week with a staff that does their “best” to see that customers are taken care of the same day or the next. Employees go out of their way to make sure customers are happy and they are constantly giving back to the community.
As for the expansion, Keegan believes things will only get better, although he laughs, “This is one of the most challenging things we’ve ever done.”
Best Home Services is a local, family owned and operated company that is focused on caring for their customers and the community. Their team relentlessly works to continuously improve their service in order to make Southwest Florida homes safer, more comfortable, and more efficient-one job at a time!