APi Group Eyeing Four New Acquisitions
A quiet Minnesota giant is getting even bigger.
On Monday, New Brighton-based APi Group Corp. announced plans to spend $300 million on four new acquisitions. One of those acquisitions is SK FireSafety Group, a Dutch firm that sells fire extinguishers and a host of other fire fighting equipment. APi Group didn’t disclose the names of the other three companies. In a news release, APi officials said the remaining firms fall under the company’s “safety services and special services.”
APi Group president and CEO Russ Becker said the four acquisitions will expand the company’s U.S. footprint and set up a “beach head for expansion” on the European continent.
The acquisition of SK FireSafety Group has already wrapped up, while the remaining three purchases are slated to close in by the end of the year.
And more acquisitions are on the horizon, Becker said.
“Our pipeline of incremental M&A opportunities is robust and we expect to continue to explore opportunistic acquisitions as we move through the balance of the year and into 2021,” he said in the release.
APi Group already has more than 30 companies in its portfolio, which primarily covers construction and safety services. Once the largest private company in Minnesota, APi became publicly traded last year, when it was acquired by a special-purpose acquisition firm headquartered in the British Virgin Islands.
More than a dozen of the company’s holdings are in Minnesota, including Jamar Co. and Northland Constructors of Duluth.