APi Group Aims To “Build a US$1-Billion-Plus Elevator and Escalator Services Platform”

Following the acquisition of Tampa, Florida-based Elevated Facilities Services Group, Minnesota-based APi Group Corp. plans to “build a US$1-billion elevator and escalator services platform over the long term” through organic growth, cross-selling with APi’s life-safety businesses and a “robust M&A pipeline,” APi Group CEO Russell Becker tells Engineering News-Record. Elevated Facilities Services, a provider of contractually based services for all brands of elevator and escalator (E&E) equipment, represents a new type of services contractor for APi, whose holdings include New Jersey-based heavy-equipment contractor J. Fletcher Creamer & Son and Minnesota steel fabricator LeJeune Steel. Becker says APi intends to acquire additional E&E services companies, a move that will be bolstered by a complex financial repositioning that occurred as a result of the most recent acquisition.