APi Group to acquire Chubb fire & security for $3.1B, funded with cash and $800M preferred equity

APi Group Corp

Enterprise value of $3.1B: $2.9B cash plus ~$200M assumed liabilities.
Financed with $800M perpetual convertible preferred: $600M from Blackstone, $200M from Viking Global.
Chubb had trailing 12-month revenue of ~$2.2B and adjusted EBITDA of ~$213M.
Transaction expected to close around year-end 2021, subject to regulatory approvals and works council consultation.
David Blitzer (Blackstone) will join APi board upon closing.

item 1.01 item 2.03 item 3.02 item 3.03 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

David Blitzer

Series B Director

APG · APi Group Corp

Filed: July 30, 2021, 7:59 PM ET

The Blackstone SPA provides that the Blackstone Purchasers’ initial nominee to serve as Series B Director is David Blitzer, and that Mr. Blitzer will be elected to the Board immediately following the issuance of the Series B Preferred Stock.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

David Blitzer was elected as Series B Director at APi Group Corp.

Action: elected
Role: Series B Director

Exact text from the filing

The Blackstone SPA provides that the Blackstone Purchasers’ initial nominee to serve as Series B Director is David Blitzer, and that Mr. Blitzer will be elected to the Board immediately following the issuance of the Series B Preferred Stock.

View on SEC.gov

APi Group Corp filing history →

Source: SEC EDGAR

accession 0001193125-21-230264

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.