Services

Investing in services means investing in opportunities emerging in the largest market in the world. While the services industry is vast, Apax has identified and built particular expertise in narrow sub-sectors.

35%
of AGA’s Invested Portfolio
as at 30/06/2025
3
core sub-sectors

Density-driven business models

Focused on building sub-sector champions in route-based services, logistics & distribution, and home & subscription services.

Outsourced sales and marketing

Long-standing experience in insurance brokerage services, wealth management, and asset management.

Professional Services

Emerging subsector with attractive opportunity set given characteristics of resilient growth and idiosyncratic value creation opportunities.

Veriforce

  • Services
  • Year of investment
    2022
  • Fund
    Apax X & Apax XI
  • % of Nav
    6
  • Entry year
    2022
  • Current valuation
    €62.5
  • Geography
    North America

Veriforce is the combination of legacy Veriforce, an acquisition by Apax XI, and Alcumus, a portfolio company of Apax X. Alcumus and Veriforce are technology providers of risk management solutions, serving a multitude of end markets.

PIB Group

  • Services
  • Fund
    Apax X
  • % of Nav
    5
  • Entry year
    2021
  • Current valuation
    €55.0m
  • Geography
    United Kingdom
Website

PIB Group is a highly diversified insurance distribution consolidator, operating primarily across the UK, with a presence in Europe. PIB focuses on
distribution of specialist commercial lines, through both direct distribution and B2B distribution.

Assured Partners

  • Services
  • Fund
    Apax IX
  • % of Nav
    4
  • Entry year
    2019
  • Current valuation
    €47.2m
  • Geography
    North America
Website

AssuredPartners is a mid-market insurance brokerage firm offering a range of services, including commercial insurance, risk management, and employee benefits across the United States, United Kingdom, Ireland, and Belgium.

Oncourse Home Solutions

  • Services
  • Fund
    Apax X
  • % of Nav
    4
  • Entry year
    2021
  • Current valuation
    €41.2m
  • Geography
    North America
Website

Oncourse Home Solutions (formerly American Water Resources) provides affordable home protection programs that help protect against unexpected repair costs for service line emergencies.

Palex

  • Services
  • Fund
    Apax XI
  • Status
    Current
  • % of Nav
    3
  • Entry year
    2023
  • Current valuation
    €33.8m
  • Geography
    Europe
Website

Independent MedTech value-added distributor in Southern Europe.