“Additionally, our free cash flow generation and EBITDA growth give us confidence in our ability to reduce net leverage to near the top end of our target net leverage range of 2.0x-2.5x near the end of the year while returning to bolt-on M&A,” said Russ Becker, APi’s President and Chief Executive Officer, in a statement.
At the end of the second quarter, the company completed a bolt-on purchase within the Safety Services division for an estimated $35 million in total consideration. During the third quarter, APi anticipates completing at least two more bolt-on acquisitions in the Safety Services business. Each of these transactions is expected to be immediately accretive to the Company’s EBITDA margin.
The company is all set to release its Q2 financial results on August 3, 2023.