APi to Acquire Elevated Facility Services Group

Cleary Gottlieb advised APi Group Corporation (APi) in its definitive agreement to acquire Elevated Facility Services Group (Elevated).

Elevated will be acquired by APi from a fund managed by L Squared Capital Partners for approximately $570 million in cash, subject to working capital and other standard adjustments.

The transaction is expected to close in the second quarter of 2024, subject to customary closing conditions and regulatory approvals. It will expand APi's position as a premier provider of safety services focused on non-discretionary, regulatory driven applications.

APi is a global, market-leading business services provider of life safety, security, and specialty services with a substantial recurring revenue base and over 500 locations worldwide.

Elevated is a premier provider of contractually based services for all major brands of elevator and escalator equipment.

For more information, please see the press release here.