APi (APG) - 2024 Q1 - Quarterly Results

Acquisition and Market Expansion - APi Group completes acquisition of Elevated Facility Services Group for approximately $570 million, expected to contribute$220 million in annual revenue at a 20% adjusted EBITDA margin[1] - Elevated has approximately 600 leaders and serves customers in over 18 states, focusing on elevator and escalator services[1] - APi targets the $10+ billion U.S. elevator and escalator services market with the acquisition[1] - Elevated acquisition accelerates APi's business mix shift towards 60$7,150 to $7,350 million, up from$7,050 to $7,250 million[1] - Full year 2024 adjusted EBITDA guidance increased to$875 to $925 million, up from$855 to $905 million[1] - APi expects organic revenue growth of 5$145 million, down from $150 million[2] - APi maintains adjusted free cash flow conversion guidance at approximately 70%[1]