Blackstone Tactical Opportunities has sold Onyx-Fire Protection Services Inc. to APi Group Inc.
Onyx-Fire Protection Services
Onyx-Fire Protection Services (Onyx-Fire) is a leading provider of comprehensive solutions used in the inspection, testing, maintenance, repair, installation and retrofit of fire and life safety systems. Leading the way in fire protection, Onyx-Fire is dedicated to keeping people and properties safe by supplying world-class solutions to fulfill the needs of commercial, industrial, institutional and residential customers across Canada.
The Deal
Onyx-Fire, a portfolio company of funds affiliated with Blackstone Tactical Opportunities, has been acquired by APi Group (APi) to create a leading provider of inspection-first fire and life safety services across North America. Blackstone and Onyx-Fire entrusted Lincoln given its experience in the fire and life safety services market and depth of its strategic buyer relationships. Terms of the transaction were not disclosed.
Our Perspective
Luke Webb, Managing Director and Co-Head of Lincoln’s Business Services Group, commented, “It was a privilege to partner with Onyx-Fire and Blackstone on this transaction. Onyx-Fire has built a leading fire and life safety platform across Canada with a strong inspection-first model and significant recurring service revenue, resulting in a highly attractive business and an ideal strategic fit for APi. We look forward to the company’s continued growth as part of APi.”
APi Group
APi Group (NYSE: APG) is a global, market-leading provider of mandated and contracted services across its safety and specialty segments. The company’s capabilities include fire and life safety, electronic security, elevator and escalator services and infrastructure services. With more than 500 locations worldwide, APi combines a century of expertise with an entrepreneurial, people-first culture.
Blackstone Tactical Opportunities
Tactical Opportunities is Blackstone’s opportunistic investment platform. The team invests globally across asset classes, industries and geographies, seeking to identify and execute on attractive, differentiated investment opportunities.
Blackstone
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over $1.2 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds.
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