Api group enters new, adjacent service market with acquisition of elevated facility services group

New brighton, minn.--(business wire)--api group corporation (nyse: apg) (“api” or the “company”) today announced that it has entered into a definitive agreement to acquire elevated facility services group (“elevated”), a premier provider of contractually based services for all major brands of elevator and escalator equipment. 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 ad.
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