Apollo Management to inject capital into merged GroupMAC/Building One

Concurrent with the merger close, an affiliate of Apollo Management IV exchanged Building One convertible debt plus $150 million cash for roughly $225 million of GroupMAC convertible preferred stock, providing PE-backed financing for the combined facilities-services company.

“Concurrent to the closing of the merger, an affiliate of Apollo Management IV, L.P., a private investment firm, will exchange its Building One convertible debt and $150 million in cash for approximately $225 million of GroupMAC convertible preferred stock.”

Signals are extracted from public coverage and print archives and pinned to a verbatim quote, presented as reported by their sources; naming a company in a signal is not an accusation against it. The verified mark denotes a high-confidence, corroborated signal. See our methodology and legal notes.