APi Group - Experts & Thought Leaders

Chubb Fire & Security is pleased to announce that it has appointed four new Managing Directors (MDs) to strengthen its position as a global leader in the fire and security services industry.  Fulco de Vries Fulco de Vries joins as Managing Director for the Benelux region. He joined SK FireSafetyGroup in 2013, after working for Ajax Chubb Varel (before it was rebranded to Chubb) and parent company, UTC Fire & Security, for eight years. He became the Business Unit Director of High-Value Asset Protection (Fire Systems) within the SK FireSafety Group.  David Guerin David joined the company in 2010 as EH&S Manager for Chubb Switzerland before becoming the Supply Chain Manager David Guerin has been promoted to Managing Director, DACH, a new role created in recognition of the growing importance of other DACH markets outside of Germany. David joined the company in 2010 as EH&S Manager for Chubb Switzerland before becoming the Supply Chain Manager in 2011.  In this role, he expanded his scope to Otis Switzerland in 2013 before dedicating his time fully to Chubb in 2017 as Managing Director for Switzerland and Austria. Alberto Vales Alberto Vales is the new Managing Director for Iberia, based in Madrid. He commenced his career as an electrical engineer and project manager at GEA, quickly progressing into senior management roles, including Managing Director of GEA’s service business. His most recent role was Managing Director of Johnson Controls’ Smart Buildings business in Spain. Kumar Velloo Finally, Kumar Velloo joins as Managing Director for Singapore. He has nearly three decades of experience in engineering and industrials, having started his career as a senior sales engineer at Otis Elevators in 1995.  He then moved to TK Elevator, becoming a Managing Director, and then KONE as a Consultant. His broad experience and expertise will allow him to manage all levels of the business including sales, service, projects, budgeting, and finance.  Long-term appointments  These leaders bring significant, related, leadership experience in the important markets they lead" This latest recruitment drive quickly follows the raft of promotions and appointments made by Chubb at the start of 2023. Andrew White, CEO of Chubb Fire & Security Group, commented, “We are very excited to announce the appointment of four new Managing Directors. These strategic long-term appointments combine both internal promotions and the addition of very experienced, industry talent."  He adds, "These leaders bring significant, related, leadership experience in the important markets they lead. They will be pivotal to leading our people-first culture while we strive to reduce complexities in our operations and processes, harnessing technology. They will lead in-country, strategic initiatives as we optimise our portfolio towards our High Growth Verticals."  Wellbeing, process efficiency, portfolio expansion Andrew White continues, “The acquisition of the business by APi last year marked an important turning point for Chubb, and I have been working closely with the new team as we continue our transformational journey and prioritise the wellbeing of our people, the efficiency of our processes, and the selective expansion of our portfolio towards new markets and solutions.” In January 2022, Chubb Fire & Security was acquired from its previous owner's Carrier by APi Group Corporation. APi is a business services provider of safety and specialty services in over 500 locations worldwide. APi provides statutorily mandated and other contracted services to a strong base of long-standing customers across industries. 

Chubb Fire & Security (‘Chubb’) is pleased to announce that, since the appointment of Andrew White as Chief Executive Officer earlier this year, it has significantly strengthened its Executive Leadership Team (‘ELT’) with a number of senior hires and internal promotions. The ELT has been established to provide greater levels of oversight to Chubb’s global sales and operational activity and to maintain its focus on its three key pillars of people, process and portfolio. Running IT platforms Keith Mizen has joined Chubb as Chief Information Officer following a successful four years in the same role at Vodafone Business working with multiple geographies and running IT platforms to support B2B sales and operations globally. Keith is expected to play a vital role in Chubb’s transformation journey as it looks to embed digitalisation into everything it does. Keith is expected to play a vital role in Chubb’s transformation journey Rabih Najjar has been recruited to the newly created role of Global Vice President of Sales, leveraging more than 19 years of international sales experience in markets including Beirut, Doha, Dubai and London, most recently working for NYSE-listed business Vertiv. International sales experience David Jackola, currently Vice President Controller at APi Group, has taken on the new role of Chubb CFO & Vice President of Transformation. David has significant functional and global experience that will bring many attributes to the Chubb Executive Leadership Team. David joined APi Group in October 2021 as Vice President Corporate Planning and Analysis before assuming the role of Vice President Controller in March 2022. Additionally, and in recognition of the growing importance of health and safety in the workplace, Stephen Dowling has was successfully appointed the role of Director of Quality, Environment, Health & Safety for Chubb globally, having previously held the role for the UK & Ireland exclusively. Stephen is a Chartered member of the Chartered Quality Institute and previously spent 28 years at BAE Systems. Expanded business portfolio Brendan McNulty has been promoted to the newly created role of Vice President – Europe Brendan McNulty has been promoted to the newly created role of Vice President – Europe. Reporting to Brendan will be the country leaders of UK & Ireland, Benelux, Spain, Germany and Switzerland/Austria. This new role will enable Chubb’s European businesses to benefit from many of the transformation and optimisation models successfully adopted by Chubb UK & Ireland. KT Yiu has been promoted to the newly created role of Vice President, Asia Pacific after more than 30 years’ experience working with Chubb in the region. His expanded business portfolio will cover Hong Kong, China, Macau, Singapore, India and Thailand. Dave Marven, previously Managing Director for Chubb Australia, is now responsible for all activity across both Australia and New Zealand. Priority on digitalisation Andrew White, CEO of Chubb Fire & Security Group, commented: “We are very excited to announce the bolstering of the Executive Leadership Team with both external and internal hires at an exciting time for Chubb.” He adds, “The acquisition of the business by APi at the start of this year marked an important turning point for the business, shifting focus to a model with a greater priority on digitalisation, as well as allowing us more penetration in the North American market where APi has historically always been strong. I have been working closely with the new team as we continue our transformational journey and prioritise the wellbeing of our people, the efficiency of our processes and the selective expansion of our portfolio towards new markets and solutions.” Long-standing customers In January 2022, Chubb Fire & Security was acquired from previous owners Carrier by APi Group Corporation (APi). APi is a pioneer business services provider of safety and specialty services in over 200 locations worldwide. APi provides statutorily mandated and other contracted services to a strong base of long-standing customers across industries.

APi Group Corporation (APi Group) is pleased to announce that it has entered into a definitive agreement to acquire the Chubb Fire & Security Business (Chubb) from Carrier Global Corporation for an enterprise value of US$ 3.1 billion, which is comprised of US$ 2.9 billion cash and approximately US$ 200 million of assumed liabilities and other adjustments. Chubb Fire & Security Headquartered in the United Kingdom, Chubb has approximately 13,000 employees globally and a sales and service network that spans 17 countries, serving more than 1.5 million customer sites in Europe, Asia Pacific and Canada. The business is a globally recognised fire safety and security provider, offering customers complete and reliable services, from design and installation to monitoring and ongoing maintenance. Russell (Russ) Becker, APi Group’s President and Chief Executive Officer (CEO) stated, “This is a very exciting day in the history of APi. We have spent a tremendous amount of time evaluating several transformative opportunities, as well as more traditional acquisitions. With the acquisition of Chubb, we see a tremendous amount of accelerated organic growth and margin expansion opportunities across our combined platform.” Major life safety services provider The acquisition of Chubb transforms APi into the world’s leading life safety services provider" Russ Becker adds, “There is also significant opportunity to leverage Chubb’s 200+ year history of providing statutorily required and route-based services through its internationally recognised brand. We look forward to providing additional details during our conference call today at 9:00 am (Eastern Time) and we look forward to welcoming Chubb’s 13,000 employees to our family of businesses.” APi Group’s Co-Chair, Sir Martin E. Franklin commented, “The acquisition of Chubb transforms APi into the world’s leading life safety services provider. We believe the transaction will be highly accretive with significant synergy opportunities. Together, the business can move faster and more efficiently, globally leveraging the expertise and ability of our combined 26,000 dedicated and talented employees.” Strategic investment APi Group’s Co-Chair, James E. Lillie said, “This acquisition meets all of our previously stated, key strategic investment criteria. Chubb has a history of strong free cash flow generation, they are leaders in their niche markets and have an experienced leadership team. The acquisition strengthens our strategic platform and expands our geographical reach as the combined entity will have market-leading positions in key geographies.” He adds, “Importantly, 50%+ of our revenue will be service based with meaningful, statutorily-required, recurring revenue. We believe there is significant future value creation potential both through organic growth opportunities, as well as through continued incremental transformational and bolt-on M&A. New customer relationships in multiple markets We are excited to partner with the APi team by investing in this highly strategic transaction" James Lillie further stated, “We are delighted to welcome a combined US$ 800 million investment in perpetual preferred equity from Blackstone and Viking Global Investors. Blackstone has a significant global property portfolio, which as our partner we expect to provide the combined company the opportunity to open new customer relationships in multiple markets.” David Blitzer, Global Head of Blackstone’s Tactical Opportunities, said “We are excited to partner with the APi team by investing in this highly strategic transaction. We believe the combined companies will be well positioned for long-term success and look forward to supporting their vision to create a global market leader.” Funding via cash and perpetual preferred equity financing For the trailing twelve-month period ended March 31, 2021, Chubb had revenue of approximately US$ 2.2 billion and adjusted EBITDA of approximately US$ 213 million. The transaction is expected to close around year-end 2021 and is subject to a consultation process, and standard regulatory approvals. It will be funded through a combination of cash on hand, perpetual preferred equity financing, and debt.