APi Group Corporation has acquired Onyx-Fire Protection Services, a provider of fire and life safety services in Canada. Onyx-Fire is expected to contribute approximately $190 million in annual revenue and grow APi’s “10/16/60+” shareholder value creation framework.
“We look forward to partnering with the Onyx-Fire team as they continue building on the strong foundation they have created,” said Russ Becker, APi’s President and Chief Executive Officer. “More broadly, our balance sheet remains strong and continues to provide the flexibility to pursue attractive capital deployment opportunities, including accretive M&A and share repurchases.”
APi Group now expects net revenues in the range of $8,575-$8,775 million, up from $8,475-$8,675 million, and adjusted EBITDA in the range of $1,165-$1,225 million, up from $1,150-$1,210 million.
