Completion of Acquisition of Canadian Fire Safety Company...Major Shareholder Sells Off Despite Upward Revision of 2026 Guidance

APi Group Corp (NYSE: APG) completed its acquisition of Canadian fire and life-safety services provider Onyx Fire Protection Services on June 8. APi now expects Onyx to contribute roughly $190 million in annual revenue, prompting a modest increase to its full-year 2026 guidance: revenues of $8.575 billion to $8.775 billion and adjusted EBITDA of $1.165 billion to $1.225 billion. The company said it will integrate Onyx strategically with its North American operations, that second-quarter guidance remains unchanged aside from Onyx’s contribution in June, and that its balance sheet remains well positioned to support further acquisitions and share buybacks.

Meanwhile, co-founder and major shareholder Martin E. Franklin generated approximately $84.2 million of liquidity on June 11 by selling 2 million common shares in a block trade at $42.08 per share through his affiliate MEF Holdings. He retains significant economic interest via remaining equity and convertible preferred shares.

Alongside the Onyx acquisition announcement, APi celebrated its 100th anniversary and confirmed its inclusion in the Fortune 500. First-quarter 2026 revenue rose more than 15 percent year-over-year to about $1.98 billion, extending its top-line growth trend. In May, the company also amended its credit agreements to expand its revolving credit commitment to approximately $1 billion, bolstering resources for additional acquisitions and shareholder returns.

APi Group is a global business-services firm offering fire and life-safety, electronic security, elevator and escalator services, and specialty contracting. Operating from over 500 locations worldwide, it builds its recurring-revenue model on regulation-driven service contracts. With tightening fire and security regulations and growing demand to replace aging infrastructure, the fire and life-safety industries in North America and Europe are increasingly embracing scale through M&A and focusing on long-term maintenance contracts.