APi Group Buys Evergreen Fire and Security, Adds $55M Revenue
APG is trading near its 52-week low of $33.4 (12% above the low).
Summary
APi Group closed the acquisition of Evergreen Fire and Security, a Tacoma-based systems integrator, adding about $55 million in annual revenue and expanding electronic security capabilities in North America. The deal is expected to be accretive to the company's 10/16/60+ framework. Management also provided a business update: $1.7 billion of capital deployed year-to-date, including $250 million in share repurchases with $750 million remaining under authorization, and expressed increased confidence in Q3 and full-year outlook. This follows a strong Q2 and the WTech Fire Group acquisition in July, reinforcing the bolt-on M&A strategy. The acquisition is modest relative to APi's $16.3 billion market cap but signals continued execution on growth and capital return.
At the time of this announcement, APG was trading at $37.46 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $16.3B. The 52-week trading range was $33.40 to $49.99. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.