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.

33%
of AGA’s Invested Portfolio
as at 31/03/2025
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.

Alcumus/Veriforce

  • Services
  • Year of investment
    2022
  • Fund
    Apax X & Apax XI
  • % of Nav
    5
  • Entry year
    2022
  • Current valuation
    €59.2m
  • Geography
    North America

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
    €57.2m
  • 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
    €51.4m
  • 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.

Safetykleen Europe

  • Services
  • Fund
    Apax IX
  • % of Nav
    3
  • Entry year
    2017
  • Current valuation
    €37.6m
  • Geography
    United Kingdom
Website

Safetykleen is Europe’s largest service provider of surface treatment and chemical application services.

Headquartered in London, Safetykleen operates in 14 countries in Europe. The company is Europe’s largest service provider for parts washers, servicing a wide range of industries. Safetykleen installs and services machines and solvents that are used to clean oil, paint, grease and rust off metal parts. It also removes and recycles contaminated solvents. The company is a fullservice provider operating a routebased business with longterm contracts and additional services.

Oncourse Home Solutions

  • Services
  • Fund
    Apax X
  • % of Nav
    3
  • Entry year
    2021
  • Current valuation
    €36.5m
  • 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.