J2 Acquisition plans new debt financing for acquisition of APi Group

By Sarah Lizee

Olympia, Wash., Sept. 3 – J2 Acquisition Ltd. plans to use cash on hand and new debt financing to fund its planned $2.9 billion acquisition of APi Group, Inc., according to a press release.

Citigroup, Bank of America, Barclays and UBS have committed to provide the debt financing.

The transaction, which is expected to close in the fourth quarter of 2019, is subject to customary closing conditions.

J2 Acquisition is a special-purpose acquisition entity based in Tortola, British Virgin Islands. APi Group is based in New Brighton, Minn., and is a provider of commercial life safety solutions and industrial specialty services.

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