Carrier Completes $3.1B Sale of Chubb Fire & Security to APi Group Corporation
Carrier Global Corporation, a provider of healthy, safe, sustainable and intelligent building and cold chain solutions, announced it has completed the sale of its Chubb fire and security business to APi Group Corporation for an enterprise value of $3.1 billion. The sale enables Carrier to focus on its core businesses and to re-allocate the net proceeds consistent with its stated capital allocation priorities, including funding organic and inorganic growth, a growing and sustainable dividend, and share repurchases while maintaining an investment grade credit rating.
Carrier’s global fire and security products business is not included in this transaction with APi Group and remains a part of the portfolio and the company’s healthy, safe, sustainable and intelligent building strategy.