J2 Acquisition Limited is to acquire APi Group, Inc., a New Brighton (Minnesota)-based provider of commercial life safety solutions and industrial specialty services, for approximately $2.9 billion.
The deal is subject to customary closing conditions. J2 expects to list its shares on the New York Stock Exchange (“NYSE”) under the symbol APG and change its jurisdiction of incorporation to Delaware in connection with the NYSE listing.
J2 intends to change its name to APi Group Corporation upon closing.
Lee by President and CEO Russell A. Becker and Thomas Lydon, who upon closing will become the combined company’s CEO and CFO respectively, APi is a provider of commercial life safety solutions and industrial specialty services and a specialty contractor in the U.S. with a diversified, blue chip customer base, contracted services offering, and a track record of acquisitions.
The company operates more than 40 nationally and regionally businesses with brands in over 200 locations and generates over 95% of its revenue in North America, primarily in the United States.
APi has approximately 15,000 employees.
J2 founders, Martin E. Franklin, and James E. Lillie, will become Co-Chairmen of the company. Ian G.H. Ashken and Russell Becker will join the board along with a number of other board additions to be announced at closing of the transaction.
FinSMEs
03/09/2019