APi Group completed the acquisition of Elevated Facility Services Group from L Squared Capital Partners for $570m.

APi Group, a construction engineering company, completed the acquisition of Elevated Facility Services Group, a provider of contractually based services for all major brands of elevator and escalator equipment, from L Squared Capital Partners, a private equity firm, for $570m. “Today we welcome our 600 new teammates to the APi family and begin our work leveraging the opportunities created by this acquisition. We are excited to collaborate with Elevated and its talented leadership team as we expand into the $10+bn US elevator and escalator services market. This acquisition further strengthens APi’s financial profile and represents a continuation of our focus on building a robust line of businesses that provide mandatorily required life safety services," Russ Becker, APi President and CEO.