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
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

Category Company
Founded 1926
Sector Construction
Employees29,000
Revenue 6.9B USD (2023)
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 founded in 1926 and is based in New Brighton, Minnesota.


DEAL STATS #
Overall 23 of 24
Sector (Business Services) 3 of 3
Type (Add-on Acquisition) 22 of 23
State (Florida) 1 of 1
Country (United States) 20 of 21
Year (2024) 1 of 2
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
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-20 Endeavor Fire Protection

United States

Endeavor Fire Protection provides inspection, maintenance, repair, and installation of portable fire extinguishers, fire sprinklers, fire alarms, emergency lighting, and plumbing systems to national chains and the healthcare, industrial, education, government, commercial, manufacturing, technology, and hospitality industries. Endeavor Fire Protection is based in the United States.

Buy -

Seller(S) 1

SELLER
DESCRIPTION

L Squared Capital Partners is a private investment group focused on long-term investments in lower middle-market growth companies with $15 to $100 million in revenue. The Firm looks to commit $30 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 6
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 3 of 4
State (Florida) 2 of 2
Country (United States) 5 of 6
Year (2024) 1 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-20 BTX Precision

Elk Grove Village, Illinois, United States

BTX Precision precision is a manufacturing platform focused squarely on the corners of the supply chain which demand the most sophisticated and capable development and production partners. BTX Precision represents a single source solution for high-quality, tight-tolerance components used in mission-critical applications by customers serving the aerospace, defense, medical, and semiconductor end markets. BTX Precision is based in Elk Grove Village, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-28 Raptor Scientific

Berlin, Connecticut, United States

Raptor Scientific is a manufacturer of complex test and measurement solutions primarily serving the aerospace and defense end markets. The Company's products are highly engineered, proprietary components with significant aftermarket content and a strong presence across major aerospace and defense platforms. Raptor Scientific was founded in 2019 and is based in Berlin, Connecticut.

Sell $655M