M&A Deal Summary

APi Group Acquires Elevated Facility Services Group

On April 15, 2024, APi Group acquired business services company Elevated Facility Services Group from L Squared Capital Partners for 570M USD

Acquisition Highlights
  • This is APi Group’s 3rd transaction in the Business Services sector.
  • This is APi Group’s 2nd largest (disclosed) transaction.
  • This is APi Group’s 20th transaction in the United States.
  • This is APi Group’s 1st transaction in Florida.

M&A Deal Summary
Date 2024-04-15
Target Elevated Facility Services Group
Sector Business Services
Buyer(s) APi Group
Sellers(s) L Squared Capital Partners
Deal Type Add-on Acquisition
Deal Value 570M USD

Target

Elevated Facility Services Group

Tampa, Florida, United States
website
Elevated Facility Services Group is a provider of elevator maintenance, repair, and modernization services across all major brands of equipment. Oracle Elevator currently operates 22 branch locations across 13 states. Elevated Facility Services Group is based in Tampa, Florida.

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Buyer(S) 1

Buyer

APi Group

New Brighton, Minnesota, United States

website

Category Company
Founded 1926
Sector Construction
Employees26,000
Revenue 6.6B USD (2022)
DESCRIPTION

APi Group is a provider of safety, specialty and industrial services in over 200 locations, primarily in North America and with an expanding platform in Europe. APi provides statutorily mandated and other contracted services to a strong base of long-standing customers across industries. APi Group was incorporated in 1926 and is based in New Brighton, Minnesota.

DEAL STATS #
Overall 23 of 23
Sector (Business Services) 3 of 3
Type (Add-on Acquisition) 22 of 22
State (Florida) 1 of 1
Country (United States) 20 of 20
Year (2024) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-27 Chubb

Ashford, United Kingdom

Chubb is a fire safety and security provider, offering customers complete and reliable services from design and installation to monitoring and ongoing maintenance. Chubb is based in Ashford, United Kingdom.

Buy $3.1B

Seller(S) 1

SELLER

L Squared Capital Partners

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2014
PE ASSETS 550M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

L Squared Capital Partners is a private investment group focused on long-term investments in lower middle-market growth companies with $10 to $100 million in revenue. The Firm looks to commit $10 to $100 million per transaction and will consider opportunities throughout North America. Sectors of interest include tech-enabled services, industrial technology, and education. L Squared Capital was established in 2014 and is headquartered in Newport Beach, California.

DEAL STATS #
Overall 5 of 5
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 3 of 3
State (Florida) 2 of 2
Country (United States) 5 of 5
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-01 SUCCESS Computer Consulting

Golden Valley, Minnesota, United States

SUCCESS Computer Consulting is a provider of IT and security services for small and medium-sized businesses, offering mission-critical managed technology services to support and enable their customers’ optimal performance. SUCCESS Computer Consulting was founded in 1992 and is based in Golden Valley, Minnesota.

Buy -
Mergr

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