APi Group announced the completion of its acquisition of Onyx-Fire Protection Services, a Canadian provider of fire and life safety services, following the closing of the transaction on June 8, 2026. The acquisition, which was originally announced in April, strengthens APi’s position in the Canadian market and expands its portfolio of recurring, regulatory-driven safety services.
Onyx-Fire operates an inspection-first business model and is expected to contribute approximately $190 million in annual revenue. According to APi, the acquisition is anticipated to support the company’s “10/16/60+” shareholder value creation framework due to Onyx-Fire’s EBITDA margin profile and asset-light operating model.
The transaction represents a meaningful expansion of APi’s North American operations and further enhances its presence in the fire and life safety market. APi said its balance sheet remains strong, providing the flexibility to continue pursuing capital allocation opportunities, including acquisitions and share repurchases.
Reflecting the expected contribution from Onyx-Fire during the remainder of the year, APi raised its full-year 2026 guidance. The company now expects net revenues to range from $8.575 billion to $8.775 billion, compared with its previous outlook of $8.475 billion to $8.675 billion.
The company also increased its adjusted EBITDA guidance to between $1.165 billion and $1.225 billion, up from its previous forecast of $1.150 billion to $1.210 billion.
APi noted that underlying business trends remain strong across both of its operating segments and reaffirmed its second-quarter 2026 guidance prior to incorporating the partial contribution from Onyx-Fire during June.
Founded in 1926, APi Group provides fire and life safety, security, elevator and escalator, and specialty services through more than 500 locations worldwide. The company maintains a large recurring revenue base and serves customers across a wide range of industries with regulatory and contract-based services. In 2026, APi is celebrating its 100th anniversary and its entry into the Fortune 500.
KEY QUOTES:
“We are thrilled to officially welcome the entire Onyx-Fire team to the APi family. This is a meaningful addition to our North American business, and we are excited about what we can accomplish together in the Canadian market. We look forward to partnering with the Onyx-Fire team as they continue building on the strong foundation they have created. More broadly, our balance sheet remains strong and continues to provide the flexibility to pursue attractive capital deployment opportunities, including accretive M&A and share repurchases.”
Russ Becker, President and Chief Executive Officer, APi Group
