Florida-based Metro Fire Protection Services, Inc Acquired by Protegis Fire & Safety

February 15, 2022

2/15/22

By Protegis Fire & Safety

Cleveland, OH – Protegis Fire & Safety announced that it has completed the acquisition of Stuart, Florida-based Metro Fire Protection Services, Inc. which significantly expands Protegis’ existing Florida operations. Like Protegis, Metro provides installation, inspection and repair services. Metro covers the full range of fire protection and life safety disciplines and serves commercial customers in a variety of end markets in Southeast Florida.

As a leading fire and life safety business in Southeast Florida, Metro was started in 1984 by Ron C. Lee and Phillip (Don) Paris. Douglas K. Crawford joined Ron and Don in 1993 and eventually became an owner in the Company. Doug will continue to lead the Company as a member of the Protegis team.

Metro co-owner Doug Crawford said, “My partners and I enthusiastically embrace Protegis as our next-phase growth partner after we were exposed to their team culture and shared core values. We completely identify with their promise to deliver fire and life safety services at a very high level. The Protegis tag-line says it best, Doing it Right, Making it Easy and Being there for You twenty-fourseven. This partnership creates immediate benefits for our customers, as well as, exciting growth and development opportunities for our valued employees.”

Peter van Niekerk, CEO of Protegis, added “We are thrilled to join forces with Metro and work with Doug and his team to support their growth and enhance customer relationships. I am confident that as part of the Protegis platform, Metro will continue to thrive and build upon its leadership position in the Florida fire protection market.”

About Protegis
Protegis is a leader in fire protection and life safety services in the Ohio, Mid-Atlantic and central Florida markets. A trusted provider that partners with customers for the long-term, serving as their single source for installing, inspecting and monitoring protection, prevention and suppression products and replacement parts. Protegis also provides national account services through 200 affiliates across the United States. For more information, visit http://www.protegis.com.


The Passing of Norb Makowka

January 30, 2022

1/27/22

NAFED

It is with sadness in our hearts that NAFED has to relay the news of Norb Makowka’s sudden passing on January 26, 2022. The cause of his death is not known at this time, but we didn’t expected this, as he seemed to be in good health. Norb was a much beloved father, grandfather, husband, co-worker, and friend and will be incredibly missed.

As many of you know, Norb was very much a part of NAFED’s foundation. He was always a dependable source of knowledge for everyone, not just for NAFED members but anyone he had contact with throughout our industry. After his years in the fire equipment distributor industry, he joined the staff of the association in 1992. For thirty years he has been a phone call away when people have had questions or concerns. He has been our point person on over a dozen NFPA technical committees, DOT compliance, and federal regulations. He helped create and manage our robust certification program. His hard work has been a large part of what makes NAFED the successful and essential association it is today. It is hard to know what we will do without him.

We know that many of you had a personal relationship with Norb, so know that you are in our thoughts as we hope we are in yours. The world just lost a generous bright light of a human being, and that is something hard to recover from. Please take the time to mourn and look out for one another.

He is survived by his wife Sue, daughter Kristen and son Michael, and granddaughter Lucy. Funeral arrangements will be announced at a later date.


An Interview with Anna Gavin, President of Fireline

January 24, 2022

1. What is your role at your company?

President

2. Tell us about your family.

Husband Jeff, son Ben (12), daughter Libby (6)

3. What was your dream job growing up?

Cheesemonger. It’s a thing I swear. I mean, you get paid to work with (and sample) cheese all day. What could be better? Frankly this is still a goal for retirement.

4. What was your first job?

Bakery assistant at Graul’s Market. I was famous for accidentally getting my foot stuck in a bucket of icing that I was using as a stool. They called me Frosty after that.

5. How did you get into the fire protection industry? Please describe your first job within the industry.

Like so many of us newer generation folks, I was born into the industry. My grandfather, John Waters, started the business in 1947 and my father, Steve Waters, took over in 1982. I grew up looking at extinguisher tags like all the other 6-year-old girls. No? Just me?

I started working at Fireline in 2001 while I was still in college. I did the usual array of office jobs: accounting, payroll, answering phones, assisting the sales staff, and I even tried my hand at sales for a bit (never again, though it did allow me time for field experience in training).

In 2008, my grandfather passed away and, in 2009, my father passed away. No other family members were actively working in the business and, at the time, we didn’t really know what else to do but have me take over as President. I was 27 years old and had a 6-month-old baby at home. It was a crazy move when I look back at it now but, thanks to a lot of help from folks in the industry, other business owners in my area, and my loyal employees, we fumbled our way through those early years. From then on, I was able to grow into my role and plan out the vision for the Fireline of the future.

6. Over the course of your career, what has been the biggest change you have seen in the industry?

In just the 12 years I have been doing this, I have seen some really major changes with the “corporatization” of how our manufacturers operate. With many of the main players in our industry being owned by large multi-national corporations, we have seen more red tape, slower product releases, and less collaboration than in years past. Our industry reps in these companies have worked very hard to keep things moving along, but it is tough when they don’t always have the control they would like to make progress. The recent shipping challenges have served to pull the distributor-manufacturer relationship even farther apart. It has caused a lot of us to re-evaluate our business models and how we focus our efforts in the market. What used to be a broad stroke of sales strategies has become more refined, more niche, then it was in the past. In the end, this may be a positive change brought out of crazy times.

7. What do you love most about your job? Least?

Most – The culture building with my company. The quality of our employees at Fireline have been on an incredible upward trajectory. We are hiring better, engaging with each other, and finding a way to make this a great place to work for our “Fireline Family.” It is a constant challenge and takes hundreds of different touch points. But it is absolutely worth the effort.

Least – Insurance claims (usually sprinkler related). I mean, who really likes dealing with subrogation clauses and lawyers (sorry lawyer friends)? Most of the time we have no role in the claim, yet we still get dragged into the paperwork shuffle. Definitely not where I want to be spending my time if I can help it.

8. What is your favorite movie?

Stop it! Who can answer this with one answer?

Princess Bride, Monty Python and the Holy Grail, Hot Fuzz, Pride and Prejudice (1995 version), Dogma, Yesterday, The 100-Foot Journey, Secretariat, and because I am a child of the 90’s – Clueless. I could go on….

9. What is the best piece of advice that you were ever given?

Focus on what you can control…..This is my life motto at this point.

10. Who inspires you?

No one specific person, more groups of people:

  • Strong women leaders who are smart, competent and foster collaborative work cultures
  • Men who take more of a role at home, or who support their wives having the more important job when it makes the best sense for the family
  • Those who donate their time to a greater good, whether in their job, their community or in public service. Time is so precious, and I am always blown away by how much some people give when they can.

11. Would you rather take an ocean, mountain or lake vacation?

Lake with a mountain! Grew up going to Squam Lake in New Hampshire during my summers.

12. What is your idea of perfect happiness?

A stress-free day with a good book, good food, a good cup of tea (and later a cocktail) and maybe a couple cats to cuddle with. Yes, I am that lady.

13. What is the trait you most dislike in others?

Passive aggressive behavior. Just keep on walking if you are bringing that to my door.

14. What or who is the greatest love of your life?

Cheese. We go way back to the early days. The love is real and has withstood the test of time.

15. Which talent would you most like to have?

I used to sing in high school and I was….ok. I would love to have a really powerhouse singing voice. I’d blow them away at karaoke.

16. Where would you most like to live?

I like living in Maryland. In a few hours, I can be at the beach or at the mountains. In less time, I can be in big cities, or out in country farmland. It’s wonderfully diverse. I would love to spend my time traveling cities all over, but Maryland will always be home.

17. What is your most treasured possession?

My kids of course! My son Ben is charismatic, clever, and just so genuinely kind. My daughter Libby is just as clever, creative and brings kids together in a way that shows she is going to be a great leader one day. It’s fun to watch them grow.

Also my grandmother’s teaspoon collection. It’s incredibly special to me.

18. What do you regard as the lowest depth of misery?

Losing my father was a shock. I remember having to sit at his desk at Fireline for the first time after he passed. It was incredibly difficult. Those first few months, the loss felt so consuming. I would have to hold it together during the day at work where I felt overwhelmed and in over my head (we were still in the recession just to make things extra challenging). And then I would get in the car, cry the whole way home mourning my father, and then have to pull it back together once I got home to my family. 2010 was a tough year.

19. Who are your favorite writers?

Jane Austen, Georgette Heyer, JK Rowling, Naomi Novik, Sarah J. Maas. Yes, I am a romantic. Don’t judge.

20. Who are your heroes in real life?

See question 10

21. What is your motto?

See question 9

Exciting News about Fireline:

After years of planning, we finally started the full renovation of our Baltimore office this year. The main building was built in 1964 by my grandfather and had 50 plus years’ worth of wear and tear. It was wood paneled walls, low lighting, winding hallways, and not nearly enough bathrooms. Not exactly a place where I would be able to recruit the younger generations.

The renovation took 10 months and was a full gutting of our office buildings. Our warehouse had already undergone a shop rebuild in 2019 so the focus was on the three office buildings. New roof, new plumbing, electrical, HVAC, walls, everything. New layout and new furniture. The main building floorplan was completely opened up so we could fit all of operations support staff in one building. One of the smaller buildings was fit out for our HR and accounting team and the third building was converted into a conference and training center. It has a tech lab and a large training room that can be used for all sorts of needs. The whole campus was rebranded and the outcome is incredible.

I made this move to help improve communications between our teams, to better recruit new team members, and to prepare Fireline for the future (also, you know, more bathrooms). I am so glad we were able to make this dream a reality. It really speaks to Fireline’s growth and our desire to invest in our staff. I like to think my father and grandfather would be proud.

The newly renovated office is just in time for our 75th anniversary as a company in 2022. We plan to host our customers and friends of the industry in an open house in the spring to celebrate 75 years of Fireline success. Check out the 3D tour of the new office here!


What the Equipment Manufacturers Are Saying

January 11, 2022

Honeywell Expected to be Hit With $160 Million in Corruption Charges

January 10, 2022
Honeywell said it estimates resolution of the probes would result in a loss of at least $160 million.
Photo: Charly Triballeau/Agence France-Presse/Getty Images

10/22/21

By Mengqi Sun
The Wall Street Journal

Aerospace and industrial conglomerate Honeywell International Inc. said it has recorded a charge of $160 million to cover an expected loss related to bribery investigations by U.S. and Brazilian authorities.

The Charlotte, N.C.-based company, which first disclosed the probes in 2019, is being investigated by the U.S. Justice Department, the U.S. Securities and Exchange Commission and Brazilian authorities related to its compliance with the U.S. Foreign Corrupt Practices Act and similar Brazilian laws.

In its quarterly report to the SEC filed Friday, Honeywell said that discussions with authorities are continuing. While it can’t predict the outcome of the investigations, the company said it estimated that the resolution of the probes would result in a loss of at least $160 million, based on available information, according to the filing.

The authorities are investigating Honeywell’s use of third parties that previously worked for its oil-products business on a 2010 contract with Brazil’s state-controlled oil company Petróleo Brasileiro SA, Honeywell said. The investigations involve interviews with former and current employees and document production, the company said.

The company said the DOJ and the SEC also are investigating a Honeywell subsidiary’s previous engagement with oil-services firm Unaoil SAM in Algeria.

A spokesman for Honeywell didn’t provide additional comment. Spokespeople for the DOJ and SEC declined to comment.

The original story can be found here: https://www.wsj.com/articles/honeywell-expects-to-pay-at-least-160-million-to-resolve-bribery-probes-in-u-s-brazil-11634947538


Are You Prepared to Transition Your Fire & Life Safety Business?

November 23, 2021

A PDF of this article can be found here:


In Mega Deal Pye Barker Acquires Keystone Fire (KPI Holdings)

October 19, 2021

8/19/21

By PR Newswire
Markets Insider

ALPHARETTA, Ga. — Pye-Barker Fire & Safety is proud to announce that it has acquired KPI Holdings, Inc., a fully integrated fire and life safety company headquartered in North Wales, Pennsylvania. With this acquisition, Pye-Barker Fire continues its strategic plan of growing its national footprint. For over 60 years, Keystone Fire Protection Co. has been a trusted provider of fire protection equipment and life safety services in commercial and industrial settings.

For over 60 years, Keystone Fire Protection Co. has been a trusted provider of fire protection equipment and life safety services in commercial and industrial settings. In 1986, John M. Lawlor, current owner and CEO of Keystone Fire, took over the family business. Since 1986, Keystone Fire has acquired several businesses and become a regionally recognized brand of excellence. To ensure continuity of the business, and to help the future growth strategy, John and Lisa Lawlor will be maintaining their presence in the Company.

“Much of our growth in the last 10 years has been through strategic acquisitions, which has strengthened our market share and complemented our product and service offerings,” Lawlor said. “But the competition to acquire good companies has become fierce, and we were looking to pair with a financially strong partner who shared our same values and visions for growth. We could not have found a better partner than Pye-Barker Fire.”

“Keystone Fire is an exciting acquisition for Pye-Barker Fire, as it allows us to enter into a new market,” said Bart Proctor, CEO of Pye-Barker Fire. “This further advances our strategic vision of being a fully integrated and self-performing national provider of fire and life safety services. The Keystone Fire name is synonymous with excellence, and we are thrilled to have them join the family.”

About Pye-Barker Fire & Safety
Pye-Barker Fire & Safety is a leading provider of fire and life safety protection services across 96 locations spanning 23 states in the Continental US with headquarters in Atlanta, Georgia. Since its founding in 1946, Pye-Barker Fire’s core values have been unwavering in providing honest and reliable service through its highly trained and dedicated employees. Pye-Barker Fire invests heavily in providing best-in-class training for its team while offering industry competitive benefits. To learn more about Pye-Barker Fire, visit www.pyebarkerfire.com.

Contact:
Chuck Reimel
(910) 612-6252
Creimel@pyebarkerfire.com

The original article can be found here: https://markets.businessinsider.com/news/stocks/pye-barker-fire-safety-acquires-kpi-holdings-inc-1030746966


The Hiller Companies Announces the Purchase of Carolina Fire Control, Inc.

September 24, 2021

9/1/21

The Hiller Companies

Concord, North Carolina — The Hiller Companies is pleased to announce the purchase of Carolina Fire Control, Inc. (CFC) on September 1, 2021. CFC is headquartered in Concord, North Carolina.

“Hiller is fortunate to be experiencing a growth period, and we are very pleased to expand our offerings through the knowledge and expertise provided by the great folks at Carolina Fire Control,” Hiller President Jeff Birch said. “This acquisition brings us an excellent opportunity to expand Hiller’s broader portfolio of fire protection services in the growing Charlotte market.”

Founded by John and Jeff Sossoman in 1989, CFC specializes in fire sprinklers, and they design, fabricate and install systems. From a 30,000 square foot, state-of-the-art fabrication, they service customers across the southeast with their NICET-certified engineering staff and offer the latest 3D building information modeling fire system designs.

The acquisition of CFC allows Hiller to expand coverage and provide a broader range of services to all customers. At this time, Hiller plans to maintain all of CFC’s management, staff and technicians. This transition will continue the dependable and professional services their customers have come to expect.

Previously serving as COO, David Kepley will transition to the role of General Manager of CFC. “We are excited to be a part of the Hiller team,” Kepley said. “We believe we will provide a strong presence in our region for Hiller, and in turn, we will have the support of a company with a proven record and exciting trajectory.”

Hiller extends its reach globally as well as in domestic markets with offices across the United States. For more than 100 years, we have been laser-focused on one goal – making the world a safer place. We are proud to be on the forefront of technology and innovation by creating adaptable safety solutions. As we continue to grow and expand our life safety footprint, we pledge to keep our customers top of mind while striving to design, install and service the most compliant, reliable systems available.

Contact: Angela Cocke
Email: marketing@hillercompanies.com
Website:
hillerfire.com


An Interview with John Mackey, President and CEO of The Mackey Group

September 24, 2021

John Mackey has been in the fire protection/life safety industry for more than 15 years, where he has key leadership roles for ANSUL, Tyco, and The Hiller Companies in Human Resources, Mergers, Acquisitions, as well as Integrating Companies, Service Operations, and Digital Strategies. Currently, John is the President & CEO of The Mackey Group, a fire protection industry consultancy and advisory group that focuses on developing growth strategies, M&A processes, and new technology.

1. What is your role at your company?

My company is in its startup phase, so I wear many hats – founder, president/CEO, sales, marketer, lead analyst, advisor, accountant, and dog walker.

2. Tell us about your family.

I am very blessed. Carrie, my wife of 29 years, and I have 3 adult children, Madison (27), Nolan (22), and Paige (21). Carrie is an owner and realtor of a real estate brokerage in our town, and each of the kids have set out to pursue their dreams, finishing college and new jobs. 

3. What was your dream job growing up?

At an early age I wanted to be a firefighter, then thought of becoming an air traffic controller or commercial airline pilot.

4. What was your first job?

Growing up on the south side of Chicago, I had paper routes and stocked shelves at a liquor store. However, my first real job was working for an electrical supply warehouse, then the US Navy, where I served for 8 years.

5. How did you get into the fire protection industry? Please describe your first job within the industry.

A recruiter called me and asked if I was interested in moving to Marinette, WI. My early career focused on various human resources roles where I worked in retail home improvement, manufacturing, and then a large American beer brewing company. I left the beer industry to join ANSUL as the Director of HR. I worked on Mark Vandover’s staff and led an 8-person HR team in ANSUL and Tyco Safety Product facilities across the US, Mexico, and Canada.

6. Over the course of your career, what has been the biggest change you have seen in the industry?

Compared to most, I’ve only been in the industry a short 15 years. In that time, the biggest change I’ve seen has been the different cycles of consolidation; first with OEMs and now the ongoing cycle for contractors. These examples may not capture the biggest change, but sure highlight that change is constant.

7. What do you love most about your job? Least?

In my current position, I can share my passion and knowledge about the industry with those that are trying to understand how its built and operates. These discussions also allow me to keep a finger on the pulse of the market and learn different perspectives from others in and around our industry. I want to create an environment where our industry is in a better place over the next 10 years than it was in the last 5, 10, or 15 years.

8. What is your favorite movie?

I have a few — Braveheart, Saving Private Ryan, and Miracle.

9. What is the best piece of advice that you were ever given?

Early in my career, one of my mentors encouraged me to learn as much about the business outside of the function I was in. This learning would set the tone for how I would offer solutions to client and customer challenges, and ultimately make me a better leader. This approach has allowed me to move outside of HR and into a number of different leadership roles across the OEM and Contractor space – including Strategy Development, Merger & Acquisition Integration, Sales & Business Development, Service Operations, and Development and Deployment of Technology.   

10. Who inspires you?

My wife — her ability to develop relationships with her friends, family, business partners, clients, and other resources is masterful. She’s an amazing listener, coach, and cheerleader for everyone she meets.

11. Who gave you your first break?

My first Commanding Officer, Captain Ralph Martin — while I was serving in the US Navy, I dealt with serious motion sickness and struggled to do my job every time we left port. I was in the early stages of being transferred to another duty station when the CO met with me to walk through my options – one of them was to stay the course and learn how to persevere and manage my condition while at sea. His encouragement and support allowed me the opportunity to become a better sailor, meet my responsibilities as a shipmate, and complete my enlistment.

12. Would you rather take an ocean, mountain, or lake vacation?

I live by the ocean, so I look forward to mountain and lake vacations.

13. If you had one “Do Over,” how would you use it?

I try not to look in the rear view and second guess myself — I can’t change the past. But I can learn from these earlier decisions and make better choices going forward. That said, I wouldn’t look for a “do over” but a “do sooner.” I would have started my own company sooner, taking firm control of my destiny.

14. What is your idea of perfect happiness?

Living life to the fullest, doing things that bring me joy, and being around the people I love

15. What is your greatest fear?

Disappointing my family

16. What is the trait you most dislike in others?

People that are fake, not true to themselves, or not honest and trustworthy

17. Which living person do you most admire?

My wife, Carrie

18. What is your greatest extravagance?

My car

19. Which words or phrases do you most overuse?

“A horse a piece,” “Hear me out,” and “So…”

20. What or who is the greatest love of your life? When and where were you happiest?

My wife — we met the summer before I left for the Navy 34 years ago and we developed a great friendship while I was away. We’ve been married 29 years now and have been on a challenging, rewarding, and fun journey.

21. Which talent would you most like to have?

I wish I was a scratch golfer.

22. What do you consider to be your greatest achievement?

My family

23. If you were to die and come back as a person or a thing, what would it be?

My daughter’s dog — she’s spoiled, gets to sit on everyone’s lap, and be pet all day long

24. Where would you most like to live?

Next to a lake, on a mountain

25. What is your most treasured possession?

Our home because it’s the gathering place for our family and friends

26. What do you regard as the lowest depth of misery?

I’m an upbeat, positive person and focus on the bright side of most situations. However, I’ve felt miserable when family and close friends have passed away — my mom, my father-in-law, my sister-in-law, and grandparents. Even in those situations I try to focus on the positive — the good those people brought into my world and the lasting impression they left behind.

27. What do you most value in your friends?

The opportunity to have lots of fun and plenty of laughs

28. Who are your favorite writers?

I prefer to read biographies/auto biographies on influential people, so these authors differ. Two recent books I’ve read include The Immortal Irishman, The Story of Thomas Meagher by Timothy Egan and Maverick, the Biography of Thomas Sowell by Jason Riley.

29. Who are your heroes in real life?

Anyone who has served in the US Military and those that serve our communities through the Police & Fire Departments

30. What are your favorite names?

Carrie, Madison, Nolan, & Paige

31. What is your motto?

This has changed over time. Right now, it’s “Do it! Just f@$&ing do it!”


API Buys Chubb Fire and Security from Carrier in Blockbuster $3.1 Billion Deal

August 23, 2021

7/27/21

By Stephen Hytha
Streetwise Reports

Safety, specialty and industrial services provider APi Group Corp. announced that “it has entered into a definitive agreement to acquire the Chubb Fire & Security Business from Carrier Global Corp. for an enterprise value of $3.1 billion, which is composed of $2.9 billion cash and approximately $200 million of assumed liabilities and other adjustments.”

The company advised that Chubb’s operations are based in the U.K. and that it employs around 13,000 people worldwide. The firm’s sales and service network serve greater than 1.5 million customers throughout 17 countries in Asia, Canada and Europe. APi Group stated that Chubb fire safety and security business offers customers integrated reliable turnkey service starting from design and installation through monitoring services and ongoing system maintenance. The firm stated that for the 12-month period ended March 31, 2021, Chubb generated adjusted EBITDA of about $213 million from $2.2 billion in total revenue.

The company said that it believes the acquisition offers compelling synergy opportunities and will be highly accretive as it transforms APi into the world’s leading life safety services provider and increases recurring services revenue in tune with its services-focused business model.

APi’s President and CEO Russ Becker commented, “This is a very exciting day in the history of APi…With the acquisition of Chubb, we see a tremendous amount of accelerated organic growth and margin expansion opportunities across our combined platform. There is also significant opportunity to leverage Chubb’s 200+ year history of providing statutorily required and route-based services through its internationally recognized brand.”

Sir Martin E. Franklin, Co-Chair at APi, noted, “We believe the transaction will be highly accretive…Together, the business can move faster and more efficiently, globally leveraging the expertise and ability of our combined 26,000 dedicated and talented employees.”

APi Co-Chair James E. Lillie stated, “Importantly, 50%+ of our revenue will be service based with meaningful, statutorily-required, recurring revenue. We believe there is significant future value creation potential both through organic growth opportunities, as well as through continued incremental transformational and bolt-on M&A.”

“We are delighted to welcome a combined $800 million investment in perpetual preferred equity from Blackstone and Viking Global Investors,” Lillie added.

The company stated that it will fund the purchase from a combination of cash on hand, preferred equity financing and debt. APi expects that the transaction, which remains subject to a completion of a consultation process and regulatory approval, will most likely close near the end of 2021

In a separate news release today, Carrier Global stated that “the sale enables Carrier to focus on its core businesses and to re-allocate net proceeds consistent with its stated capital allocation priorities, including funding organic and inorganic growth, dividends, and share repurchases within a solid investment grade credit rating.” Carrier pointed out specifically that its global fire and security products business is not being sold as part of this transaction and remains an important part of its portfolio and long-term strategy.

Carrier’s Chairman and CEO Dave Gitlin remarked, “Carrier continually assesses all aspects of our global portfolio to ensure alignment with our strategic business priorities and optimal value for our stakeholders…This transaction drives greater focus for Carrier and allows us to re-allocate proceeds from the divestiture toward our higher strategic imperatives.”

APi is headquartered in New Brighton, Minn., and provides contracted and statutorily mandated safety, specialty and industrial services to businesses in more than 200 global locations.

Carrier is based in Palm Beach Gardens, Fla. and claims to be “the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions.”

APi Group started the day with a market cap of around $4.1 billion with approximately 201.3 million shares outstanding and a short interest of about 2.2%. APG shares opened about 4% higher today at $21.13 (+$0.79, +3.88%) over yesterday’s $2034 closing price and reached a new 52-week high price this morning of $23.61. The stock has traded today between $20.72 and 23.61 per share and is currently trading at $22.63 (+$2.29, +11.26%).

The original story can be found here.