Welcome to our dedicated page for APi Group Corporation news (Ticker: APG), a resource for investors and traders seeking the latest updates and insights on APi Group Corporation stock.
APi Group Corporation (symbol: APG) is a premier parent company overseeing more than 40 independently managed businesses across the life safety, energy, specialty construction, and infrastructure sectors. With operations in over 200 locations worldwide, APi Group offers the personalized service of small-to-medium sized construction companies combined with the robust capabilities of an industry leader, fostering innovation throughout the construction industry.
APi Group stands out as one of the largest specialty contractors in North America. In the Engineering News-Record (ENR) 2017 rankings, it secured the fifth position among the Top 600 Specialty Contractors. Notably, the company leads the top 20 firms in the fire protection and sprinkler category, emphasizing its commitment to life safety.
The company’s operations span two primary segments:
- Safety Services: Offering comprehensive safety solutions across North America, Asia Pacific, and Europe, APi Group focuses on integrated occupancy systems, including fire protection, Heating, Ventilation, and Air Conditioning (HVAC), and entry systems. These services encompass design, installation, inspection, and maintenance, catering to commercial, educational, healthcare, high-tech, industrial, and special-hazard environments.
- Specialty Services: Providing extensive infrastructure services and specialized industrial plant services, APi Group excels in the maintenance and repair of crucial infrastructure such as underground electric, gas, water, sewer, and telecommunications systems.
APi Group is dedicated to leadership development within its organization, fostering a culture where every employee has the potential to lead. The company's commitment to employee growth is a testament to its core values and vision for the future.
APi Group (NYSE: APG) successfully completed debt refinancing, resulting in substantial cash interest savings of approximately $12 million annually. The refinancing included an upsizing and repricing of term loans due 2029, with a 50 basis points reduction in the borrowing rate. The company incurred approximately $2,257 million of incremental term loans due 2029 to refinance existing loans, repay outstanding loans, and fund general corporate purposes, including the pending acquisition of Elevated Facilities Services Group. The transaction closed on May 10, 2024, with an expected net leverage ratio of approximately 2.8x and a weighted average maturity of about 5 years. Additionally, APi will be participating in a fireside chat at the Bank of America Industrials Conference on May 14, 2024.
APi Group reported strong first quarter financial results for 2024, with record net income of $45 million (up 73% year-over-year) and adjusted EBITDA of $175 million (up 19% year-over-year). The company simplified its capital structure by retiring all outstanding Series B Preferred Stock and entered a new service market with an agreement to acquire Elevated Facility Services Group. APi remains focused on margin expansion initiatives and targets a 13% adjusted EBITDA margin by 2025. The company is excited about its pipeline of opportunities and aims to deliver on both its 2024 plan and long-term targets.
FAQ
What is the current stock price of APi Group Corporation (APG)?
What is the market cap of APi Group Corporation (APG)?
What does APi Group Corporation do?
In which segments does APi Group operate?
What services are offered under APi Group's Safety Services segment?
What industries does APi Group's Safety Services cater to?
What does APi Group’s Specialty Services segment include?
How large is APi Group in the specialty contracting industry?
What is APi Group's ranking in life safety services?
How does APi Group support its employees?
Where does APi Group provide its services?
What is the focus of APi Group's Safety Services segment?
