Co Westmeath-based specialist fire protection, detection and maintenance company Wtech Fire Group has agreed a deal to be bought by New York Stock Exchange listed company APi Group Corporation for an undisclosed sum.
APi is a US-listed global business services provider of fire and life safety, security, elevator and escalator and specialty services with over 500 locations worldwide.
The deal is expected to close in the second half of 2026, subject to customary closing conditions.
Headquartered in Mullingar, Writech, the cornerstone of Wtech Fire Group, was founded in 1985 and has grown substantially in that time to now have a workforce of over 800 people.
The group, which is expected to make about $175m in annual revenue, operates across a number of key markets including the UK, Ireland, Sweden, Norway and Germany.
It serves clients across sectors including commercial, industrial, power substations, data centres and renewable energy.
Today's deal marks Waterland Ireland's first exit, following the beginning of its partnership with Wtech in 2021 to support an ambitious growth programme.
Since then, Wtech has scaled significantly, including completing 12 strategic acquisitions.
Ted Wright, Wtech Fire Group's chief executive, said that joining APi Group marks a transformational moment for the company and reflects everything it has worked hard to build.
"From the outset, there was a strong alignment in values and culture, from a shared commitment to safety and entrepreneurial leadership to investing in people, attracting the best talent and being the best," he said.
"Our customers trust us to deliver high-quality fire and life safety solutions, and being part of APi's global platform provides the scale to do even more," he added.
Laura Dillon, Partner at Waterland Ireland, said the exit of Wtech marks an important milestone for Waterland and is a strong reflection of what can be achieved through a clear strategy and collaboration with an ambitious leadership team.
"Since our partnership in 2021, the business has delivered excellent growth, combining organic expansion with a successful acquisition programme to build a leading international platform," she said.
Russ Becker, APi’s President and chief executive, said its international business has built real strength in fire alarm and detection, and electronic security, adding that fire sprinkler and suppression is an area where the company needed greater scale to truly serve it customers end-to-end.
"Wtech fills that gap nicely, and their expertise in this space makes them a natural fit," he said.
"We are pleased to have Ted Wright continue to lead the Wtech business after closing and are confident that, under APi's ownership, there is a significant runway for Wtech to grow both organically and through strategic acquisitions," he added.
