APi Group completes $3.1B acquisition of Chubb fire & security business

APi Group Corp

APi completed acquisition of Chubb from Carrier for $3.1B enterprise value ($2.9B cash + ~$200M assumed liabilities).
Financed via $800M Series B perpetual convertible preferred stock (5.5%, sold to Blackstone and Viking), $1.1B term loan, and $300M 4.75% senior notes due 2029.
David S. Blitzer appointed to board as Series B director effective upon closing of the acquisition.
Board approved stock dividend of ~7.54M common shares to Series A preferred holder for 2021 annual dividend.
Chubb employs ~13,000 people, serves 1.5M customer sites across 17 countries; combined workforce ~26,000.

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Executive movements

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Appointed

David S. Blitzer

Series B Director

APG · APi Group Corp

Filed: January 3, 2022, 6:59 PM ET

David S. Blitzer, was elected to the board of directors effective following the issuance of the Series B Preferred Stock and the closing of the Chubb Acquisition.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

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

Action: elected
Role: Series B Director

Exact text from the filing

David S. Blitzer, was elected to the board of directors effective following the issuance of the Series B Preferred Stock and the closing of the Chubb Acquisition.

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APi Group Corp filing history →

Source: SEC EDGAR

accession 0001193125-22-000650

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