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L Squared Fund Selling Elevated Facility Services to APi

Closing by end of June seen

APi Group Corporation (NYSE: APG) said today it has entered into a definitive agreement to buy Elevated Facility Services Group from a fund managed by L Squared Capital Partners of Newport Beach for approximately $570 million in cash, subject to working capital and other standard adjustments.

L Squared, a private equity investment firm, said the transaction is expected to close by the end of June.

“We are grateful for our highly successful partnership with Matt Biskaduros and the entire Elevated leadership team,” Sean Barrette, partner at L Squared, said in a statement today.

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Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal
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