APi Group

What APi Group does

APi Group Corporation (NYSE: APG) is a publicly traded business services holding company headquartered in New Brighton, Minnesota, founded in 1926. The company operates through two segments: Safety Services and Specialty Services. Safety Services delivers fire protection, life safety, security, and elevator and escalator services spanning design, installation, inspection, monitoring, and service across more than 500 locations in approximately 20 countries. Specialty Services provides infrastructure, utility, mechanical, HVAC, fabrication, transmission, and civil construction services for commercial and industrial customers. The company serves commercial, industrial, healthcare, data center, government, and utility end markets through a network of 35+ operating subsidiaries that retain individual brand identities, including Chubb Fire & Security, CertaSite, Onyx Fire Protection, Wtech Fire Group, Viking Fire Protection, Western States Fire Protection, Davis-Ulmer, Grunau, Metropolitan Mechanical Contractors, J. Fletcher Creamer & Son, and Jamar Company.

APi Group reported $7.9 billion in full-year 2025 revenue, up from $3.9 billion in 2021, with an adjusted EBITDA margin of 13.2% in 2025 and a stated 2028 target of 16% EBITDA margin and 60% Inspection, Service, and Monitoring (ISM) revenue mix. Revenue mix is anchored by recurring inspection, service, and monitoring contracts driven by statutorily required fire and life safety compliance, supplemented by project-based specialty contracting work. The company employs approximately 29,000 people worldwide and achieved 21 consecutive quarters of inspection growth in North America with 80% adjusted free cash flow conversion. The company generated $982 million in 2025 EBITDA and is guiding to $1.165-$1.225 billion in 2026 adjusted EBITDA on $8.575-$8.775 billion in revenue.

The operating model is a holding-company structure executing a roll-up strategy with a disclosed 300+ target bolt-on M&A pipeline and over $1 billion deployed across recent acquisitions including Chubb Fire & Security ($3.1 billion in 2022), Elevated Facility Services ($570 million in 2024), Endeavor Fire Protection (2024), CertaSite (February 2026), Onyx-Fire Protection Services (June 2026), and Wtech Fire Group (announced April 2026). The company is investing in AI-driven field service technology for customer attrition tracking and operations optimization, with deployment targeted for H1 2026. Distribution is via direct enterprise field sales through subsidiary branches. APi Group debuted on the Fortune 500 at position 486 in 2026, coinciding with its 100-year anniversary.

Name

APi Group

Legal name

APi Group Corporation

Website

https://apigroupinc.com

Company type

Public

Founded year

1926

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

APi Group Corporation (NYSE: APG) is a New Brighton, Minnesota-based holding company providing fire and life safety, security, elevator, and specialty construction services through 35+ subsidiaries across 500+ locations in approximately 20 countries, serving commercial, industrial, healthcare, data center, government, and utility customers.

Ownership category

akta.pro rank

Product category

Fire Protection and Life Safety Services

NAICS

Professional Organizations (81392), Business Associations (813910), Business, Professional, Labor, Political, and Similar Organizations (8139)

SIC

Services-Business Services, Nec (7389), Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

API Management Platforms (API Gateways, Developer Portals) (HDAEAIAA)

akta.pro secondary industries

API Security & Governance (Policy, Threat Protection) (HDAEAIAI), API Management & Gateways (BPAMAOAA), API Analytics, Monetization & Developer Experience Tooling (HDAEAIAJ), API Security (Discovery, Testing, Runtime Protection) (HDADACAB)

Keywords

• Fire protection services
• Life safety services
• Specialty contracting
• Building inspection services
• HVAC mechanical services

Headquarters

HQ city

Minnesota City

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain, Infrastructure

Revenue model

1. Safety Services: Fire and life safety services including design, installation, inspection and service of end-to-end integrated occupancy systems (fire protection services and entry systems), plus elevator and escalator services. Generates recurring revenue through inspection, service, and monitoring contracts. Target is 60% Inspection, Service, and Monitoring (ISM) revenue by 2028.
2. Specialty Services: Infrastructure and utility services, specialty contracting, HVAC, fabrication, transmission, and civil services. Includes electric and gas utility, fiber optics, water/sewer systems, mechanical, insulation, roofing, and fabrication work.
3. Data Center Services: Specialized services for data center construction and maintenance, representing approximately 8% of 2025 revenue, heading toward 10% in 2026

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

APi Group is a diversified business services provider that delivers end-to-end fire protection, life safety, security, and elevator/escalator services through its Safety Services segment, and infrastructure, utility, specialty contracting, HVAC, fabrication, transmission, and civil services through its Specialty Services segment. The company serves commercial, industrial, healthcare, data center, manufacturing, utility, and government customers across North America and Europe via approximately 37 operating subsidiaries, with an inspection-first model designed to convert mandatory regulatory compliance into recurring service revenue.

Product overview

APi Group operates as a diversified business services company providing Safety Services and Specialty Services through a portfolio of subsidiary companies. Safety Services includes fire and life safety, fire protection systems, security, and elevator/escalator services with end-to-end capabilities spanning design, installation, inspection, and service. Specialty Services encompasses infrastructure/utility, mechanical, HVAC, fabrication, transmission, and civil construction services. The company serves commercial, industrial, healthcare, educational, and government clients across North America and internationally. Key subsidiary brands include Chubb Fire & Security (acquired 2022 for $3.1 billion), CertaSite (acquired Feb 2026), Onyx Fire Protection Services (acquired June 2026), Wtech Fire Group (announced April 2026), Elevated (elevator services), Viking Fire Protection Group, Western States Fire Protection, Davis-Ulmer, J. Fletcher Creamer & Son, and Metropolitan Mechanical Contractors, among approximately 35+ subsidiary companies operating from over 500 locations worldwide.

Differentiator

Problem solved

Functional benefit

Brands

• Building Great Leaders: Company's purpose and leadership development program brand
• Safety Services
• Specialty Services

Products and services

• Safety Services Comprehensive life safety and security services including fire protection, detection, and suppression systems, plus elevator and escalator services. Delivers end-to-end integrated occupancy systems with design, installation, inspection, and service capabilities for commercial, industrial, healthcare, and government customers.
• Specialty Services Diversified specialty contracting services including infrastructure and utility services, mechanical/HVAC, insulation, roofing, fabrication, transmission, inspection, and civil services for commercial and industrial clients.
• Chubb Fire & Security Services Global fire and security services provider offering comprehensive fire protection and security solutions through Chubb's international branch network.
• CertaSite Fire and Life Safety Inspection Services Inspection-first provider of fire and life safety services operating 17 facilities across eight Midwest states with more than 250 technicians.
• Onyx Fire Protection Services Canadian fire and life safety services provider delivering inspection, monitoring, and fire protection services across Canadian markets.
• Elevated Elevator Services Elevator services subsidiary providing elevator inspection and maintenance services for commercial and industrial facilities.
• Start Elevator Services Elevator services subsidiary providing inspection, maintenance, repair, and modernization services for commercial elevator and escalator systems.
• Grunau Fire Sprinkler and Mechanical Services Fire protection and mechanical services subsidiary providing comprehensive fire sprinkler and mechanical contracting services for commercial customers.
• J. Fletcher Creamer & Son Infrastructure and Civil Services Infrastructure and construction services subsidiary specializing in heavy civil, road, and bridge work for public and private customers.
• Jamar Company HVAC and Mechanical Services HVAC and mechanical services subsidiary providing installation, service, and maintenance for commercial and industrial facilities.
• Metropolitan Mechanical Contractors Services Mechanical contracting services subsidiary providing HVAC and plumbing installation and service for commercial customers.
• APi National Service Group National service coordination subsidiary providing coordinated multi-site services across APi Group's network of companies for enterprise customers.
• 3S Incorporated Fire Protection Services Safety services subsidiary providing fire protection and inspection services.
• American Fire Protection Group Services Fire protection services subsidiary offering comprehensive fire protection solutions for commercial and industrial customers.

Quantifiable outcome

• 80% adjusted free cash flow conversion rate
• +4 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Wtech Fire Group AcquisitionscoreStrategic or Co-development Partner · 27 April 2026Wtech Fire Group announced three acquisitions as part of its expansion strategy: Absolute Fire & Security, Feuerfuchs Brandschutz GmbH in Germany, and PACISA (Madrid-headquartered with operations across Spain, Portugal, England, Romania, Slovakia and Germany). Wtech opened €2.5m headquarters in Ireland with plans to add 100 new positions.

Scale indicators17 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• EMCOR Group: EMCOR Group (NYSE: EME) is the closest direct peer — a leading provider of mechanical & electrical construction, building services, and industrial services with comparable mix of project-based and recurring facility services revenue, similar Fortune 500 scale, and a similar M&A-driven growth strategy.
• Comfort Systems USA: Comfort Systems USA (NYSE: FIX) provides HVAC, mechanical, and building automation services to commercial/industrial clients. Highly comparable business model to APi's Specialty Services segment, with similar end markets and similar M&A-driven expansion.
• Quanta Services: Quanta Services (NYSE: PWR) is a leading infrastructure services provider for electric, gas, telecom, and renewable energy utilities. Comparable to APi's Specialty Services/utility infrastructure work, with larger scale and similar recurring/contract-driven revenue mix.
• MasTec: MasTec (NYSE: MTZ) provides infrastructure construction services across communications, utility, oil & gas, and clean energy. Comparable to APi's specialty contracting and utility infrastructure offerings with similar end-market exposure.
• MYR Group: MYR Group (NASDAQ: MYRG) is a specialty contractor focused on electrical construction for transmission, distribution, and commercial/industrial markets. Overlaps with APi's specialty contracting and utility infrastructure services.
• IES Holdings: IES Holdings (NASDAQ: IESC) provides electrical and mechanical design, installation, and service across commercial, industrial, and residential markets. Comparable mix of project-based and recurring service revenue to APi's Specialty Services.
• Limbach Holdings: Limbach Holdings (NASDAQ: LMB) is a specialty contractor providing HVAC, plumbing, and building controls services with a focus on recurring service revenue. Comparable to APi's mechanical contracting and inspection-first operating approach.

Broad incumbents

• API Group (Cintas competitor) — Cintas: Cintas (NASDAQ: CTAS) is a large, broadly diversified business services provider with a recurring-route model. While not in fire protection, it shares APi's recurring-service DNA and serves overlapping commercial/industrial customer bases with safety-adjacent offerings.
• Tutor Perini: Tutor Perini (NYSE: TPC) is a civil, building, and specialty construction company operating at similar scale, providing infrastructure and large project-based services. Comparable to APi's Specialty Services and civil/infrastructure segments.
• Bowhead Specialty Holdings / nVent Electric: nVent Electric (NYSE: NVT) provides electrical connection and protection solutions including data center infrastructure. Broader incumbent in mission-critical facility infrastructure, adjacent to APi's data center fire safety services.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/api-group-inc-206661402690119
• LinkedInlinkedin.com/company/api-group-inc-

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries20 records

Funding overview

Funding rounds4 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A8 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about APi Group