{
  "title": "APi Group acquires Chubb: $3.1B price, structure and what it means",
  "url": "https://acquisitions.com/blog/api-group-acquires-chubb-fire-and-security/",
  "author": "Moran Pober",
  "publisher": "Acquisitions.com",
  "published": "2026-10-24",
  "updated": "2026-10-24",
  "section": "Deal reports",
  "keyword": "APi Group acquires Chubb",
  "short_answer": "APi Group bought the Chubb fire and security business from Carrier Global for an enterprise value of $3.1 billion: $2.9 billion in cash plus about $200 million of assumed liabilities. Announced 27 July 2021, closed 3 January 2022. Chubb had about $2.2 billion of revenue, 13,000 employees and 17 countries. APi paid with cash, $800 million of preferred equity, a $1.1 billion term loan and $300 million of notes.",
  "facts": {
    "Buyer": "APi Group Corporation (NYSE: APG), New Brighton, Minnesota",
    "Target": "Chubb Fire & Security business (Chubb Limited), sold by Carrier Global Corporation (NYSE: CARR)",
    "Sector": "Fire safety and security services: design, installation, monitoring and maintenance",
    "Location": "Chubb: headquartered in the United Kingdom, sales and service network in 17 countries across Europe, Asia Pacific and Canada",
    "Price": "Enterprise value of $3.1 billion: $2.9 billion in cash plus approximately $200 million of assumed liabilities and other adjustments",
    "Structure": "Stock purchase agreement dated 26 July 2021; cash funded by cash on hand, $800 million of 5.5% Series B perpetual convertible preferred stock, a $1.1 billion seven-year term loan and $300 million of 4.750% senior notes due 2029",
    "Revenue": "Approximately $2.2 billion for the twelve months ended 31 March 2021 (per APi's announcement)",
    "Employees": "Approximately 13,000",
    "Announced": "27 July 2021",
    "Closed": "3 January 2022",
    "Source": "APi Group announcement, APi Group closing release and the APi Group Form 8-K filed on closing, all on sec.gov; Carrier's announcement"
  },
  "sources": [
    "https://www.sec.gov/Archives/edgar/data/1796209/000119312521230264/d146150dex991.htm",
    "https://www.sec.gov/Archives/edgar/data/1796209/000119312522000650/d251823dex991.htm",
    "https://www.sec.gov/Archives/edgar/data/1796209/000119312522000650/d251823d8k.htm",
    "https://www.sec.gov/Archives/edgar/data/1783180/000095014221002448/eh210172127_ex9901.htm",
    "https://www.sec.gov/Archives/edgar/data/1796209/000162828023039943/chubbvaluecaptureupdate-pr.htm",
    "https://www.sec.gov/Archives/edgar/data/1796209/000162828025026986/apginvestordayrelease.htm"
  ],
  "license": "Facts may be quoted with attribution to Acquisitions.com and a link to the url above."
}