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Mergers & AcquisitionsMediumUpdated•Originally published 23 April 2026•Updated 23 April 2026•
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APi Group to Acquire Onyx-Fire Protection Services from Blackstone

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Key Facts

1APi Group announced it has entered into a definitive agreement to acquire Onyx-Fire Protection Services Inc., a Canadian fire and life safety provider.
2The acquisition is from funds managed by Blackstone Tactical Opportunities and is expected to close in the second quarter of 2026.

APi Group Corporation (NYSE: APG) has announced a definitive agreement to acquire Onyx-Fire Protection Services Inc. from funds managed by Blackstone. The company expects the acquisition to generate approximately $190 million in revenue, marking a significant expansion for APi Group in the Canadian market. This strategic move aligns with APi Group’s inspection-first business model, aimed at capturing high-margin service revenue. The transaction is currently expected to close in the second quarter of 2026, pending customary closing conditions and regulatory approvals. Analysts view the deal as a bullish indicator of the company's long-term growth strategy through disciplined M&A activity. By integrating Onyx-Fire, APi Group strengthens its competitive positioning within the safety services infrastructure sector.