APi Group adds Evergreen Fire and Security, stacking electronic security onto its North American Safety book

APi Group Corporation announced on September 22 that it has closed the acquisition of Evergreen Fire and Security, a Tacoma, Washington systems integrator. Evergreen provides end-to-end electronic security and fire life safety solutions — intrusion detection, access control, video surveillance, and fire alarm and detection. APi said the deal expands the electronic security capabilities of its North American Safety business and that Evergreen is expected to contribute approximately $55 million in annual revenue and be accretive to the company’s “10/16/60+” shareholder value creation framework.

The asset.

Evergreen Fire and Security was founded in 2000 and is headquartered in Tacoma. Per APi’s release, the company has more than 25 years of experience delivering integrated electronic security and fire life safety work — the intrusion, access, and video stack alongside fire alarm and detection — as a regional systems integrator. That mix is the point of the purchase: APi is buying a wallet that already sits at the intersection of security integration and life-safety detection.

The platform.

APi Group is a New Brighton, Minnesota–based public company (NYSE: APG) that provides statutorily mandated and contracted services across Safety Services and Specialty Services — fire and life safety, electronic security, elevator and escalator, and infrastructure. The company states more than 600 locations in over 20 countries and, in 2026, is marking its Fortune 500 debut and a hundredth anniversary. CEO Russ Becker framed Evergreen as a cultural fit with long-standing customer relationships and a “meaningful step toward adding electronic security expertise and scale” to the North American Safety business.

In the same update, Becker said year-to-date capital deployment has reached $1.7 billion, including bolt-on and platform acquisitions, business investment, and $250 million of share repurchases, with $750 million remaining under the current buyback authorization. He also pointed to a still-robust M&A pipeline and free-cash-flow capacity to keep buying culturally aligned businesses.

Public FLS buys the security wallet.

Owners watching fire-and-life-safety consolidation already know the PE side of the board — Summit stacking sprinkler density, MRE’s Total Fire opening Pennsylvania, Hidden Harbor standing up Escape Fire, Right Angle’s FPT densifying Connecticut. APi is the public strategic version of the same wallet logic: keep acquiring inspection- and service-heavy life-safety businesses, and when the opportunity is right, buy the electronic security layer that sits next to fire alarm so the Safety segment can sell a fuller suite.

The disclosed ~$55 million revenue contribution is a mid-sized regional integrator print — sized for a Fortune 500 FLS consolidator that has already spent $1.7 billion this year across M&A, organic investment, and buybacks. The structural signal for sellers is that public FLS capital is still competing for Pacific Northwest security-and-detection books alongside the PE platforms hunting sprinkler and special-hazard shops.

What it means.

For fire alarm, detection, and electronic security owners in the Pacific Northwest — and for any multi-line FLS shop that already carries intrusion, access, or video — APi is an active named buyer with a public balance sheet and an explicit mandate to deepen electronic security inside North American Safety. The practical diligence questions on the next inbound are the usual ones: how much of the book is recurring inspection and monitoring versus project install, how cleanly fire alarm sits next to the security stack, and whether the inbound is hunting a Tacoma-style multi-line integrator.