- July 27, 2021
- Posted by: Stratford Team
- Category: Business
APi Group Corp.
APG,
-0.20%
said Tuesday it has agreed to acquire the Chubb Fire & Security Business from Carrier Global Corp.
CARR,
-0.75%
in a deal with an enterprise value of $3.1 billion. Chubb, which is headquartered in the U.K., has about 13,000 employees around the world and services more than 1.5 million customer sites in Europe, Asia Pacific and Canada.” With the acquisition of Chubb, we see a tremendous amount of accelerated organic growth and margin expansion opportunities across our combined platform,” ApI Chief Executive Russ Becker said in a statement. “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.” APi co-Chair James Lillie said the deal includes a combined $800 million investment in perpetual preferred equity from Blackstone and Viking Global…
