Billionaire Andreas Halvorsen’s Top 15 Long-Term Stock Picks

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3. APi Group Corporation (NYSE:APG)

Number of Hedge Fund Holders: 55  

Viking Global’s Stake: $848.9 million 

APi Group Corporation (NYSE:APG) provides safety, specialty, and industrial services. The following factors demonstrate the company’s promise as a solid investment. Firstly, the impressive financial position of the company may attract investors. As per the report of the third quarter of 2024, third-quarter net revenues were $1.8 billion, representing growth of 2.4% with double-digit inspection revenue growth in US Life Safety. It also recorded third-quarter net income of $69 million, representing year-over-year growth of 28%. Secondly, the company has planned to acquire Elevated Facility Services Group, a premier provider of contractually based services for all major brands of elevator and escalator equipment. Elevated will be acquired by APi from a fund managed by L Squared Capital Partners for approximately $570 million in cash, subject to working capital and other standard adjustments. This may hold an investment opportunity as this transaction will expand APi’s position as a premier provider of safety services focused on non-discretionary, regulatory-driven applications.

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