APi Group Acquires Wtech Fire Group from Waterland to Expand Fire Safety Services

APi Group Corporation (NYSE: APG) has entered into a definitive agreement to acquire Wtech Fire Group from Waterland Private Equity, a pan-European private equity firm that acquired a majority stake in the Mullingar-based business in 2021. The transaction, announced on April 17, 2026, is expected to close in the second half of the year, subject to customary closing conditions including regulatory approvals. Financial terms were not disclosed.

Under Waterland’s ownership, Wtech pursued an aggressive buy-and-build strategy, completing 12 bolt-on acquisitions across Europe to cement its position as a pan-European fire safety consolidator. These included Ce Sprinkler in Sweden (€10 million), Compco Fire Systems in the UK (€25 million), Jem Pumps and Wilec Fire & Security in Ireland, and Ideal Fire in Dublin — as well as further deals in the Nordic region and beyond. The acquisition programme transformed a second-generation Irish family business into a near-800-employee pan-European platform, growing revenues from a standing start to an expected $175 million annually — a remarkable value creation story over just five years of ownership.

Wtech Fire Group, headquartered in Ireland, serves multiple European markets including the United Kingdom, Ireland, Spain, Germany, and the Nordic region. The original business, WriTech, designs, manufactures, installs, and services fire safety systems for large buildings and complex facilities, serving data centres, life sciences plants, logistics and retail parks, commercial property, and food and beverage facilities. The projected revenue contribution of approximately $175 million carries a margin profile consistent with APi’s existing international operations.

APi Group, based in New Brighton, Minnesota, is a global leader in fire and life safety, security, elevator and escalator, and specialty services, operating over 500 locations worldwide. The acquisition fills a strategic gap in APi’s European portfolio by adding fire sprinkler and suppression capabilities to its existing fire alarm, detection, and electronic security services — enabling a more comprehensive, end-to-end fire and life safety offering across the continent.

Russ Becker, President and CEO of APi Group, noted that Wtech fills a critical gap in fire sprinkler and suppression scale, describing the company as a natural fit given its expertise. Ted Wright, CEO of Wtech, will continue to lead the business following closing, providing continuity for customers and staff. Both leaders highlighted a strong cultural and values alignment between the two organisations, centred on safety, entrepreneurial leadership, and long-term investment in people.

The transaction is expected to generate operational synergies through cross-selling opportunities, streamlined procurement, and optimised field service operations. APi plans to integrate Wtech’s capabilities into its broader European platform while pursuing further strategic acquisitions in the region — continuing the growth trajectory that Waterland so effectively established over the preceding five years.