APi Group Acquires Chubb Fire And Security

****:*** *** *****'* ******** deck ** *** ***** deal.

Overview ****

*** ***** ********* *** acquisition******* **** & ******** Business*********** ****** ***********, ******* *** ******** at $*.* *******, ********** of $*.* ******* ** cash *** ~$*** ******* in ****. ** **** of *** ****, *** will **** ******* ** additional $*** ******* ********** from ********** *** ****** Global, ** *** **** of ********* ********* ******. Viking ********** ***** ~**.*% of ***.

Valuations ** *** ****

*** *** * ~$* billion ****** ************** ******** to *** $*.* ******* annual ******* *** $*** million *** **** (***:*** **** ****** ******) ***** ***** *** valued ** ~*.** *** 2020 ******* ** ~$* billion *** ~$*** ******* net *******.

APi ******* ** *********

*** **** ** *** acquisition ** ** ****** the *****’* ******* **** safety ******** ********, ** APi **** ** *** release:

*** *********** ** ***** transforms *** **** *** world’s ******* **** ****** services ********. ** ******* the *********** **** ** highly ********* **** *********** synergy *************.

*** *** ******** **+ companies ** *** **** 15 *****, *** ** average ** * *** year:

**** ****** ****** ***'* Safety ******** *******:

APi **********

*** ************* *** ***** *** as * ***** ********* contracting ******* *** *****, prior ** **** *********** had~$3.6 ******* ******* ** 2020, **% ** *** USA:

*** ** *** * significant ****** ** ******** systems ** *** ***, though ** $*+ ******* in ***** ** *******, this ***** **** * significant ********** *********.

*** *******'* ******* ******* is****** ********(*.*. **** **********, ********, and ****), ************* ********(*.*. ********** ***** ********* and ******* **************) ***** behind *************** ********(*.*. *** *** *** pipeline ************** *** **********) is ***** ******** ********, as ***** **** ******** presentation *********:

Chairman ***** **** **** ** **** ***

***'* ************** ************ ** **** *** his ****** ***** ****** play, *********** *** ****** *** SPAC ** ****, ***** ****** ************ rolled ** ******** ******** products ********* **********, ******* **** ******* for $** ******* ** 2016.

******, *** **** **** took *** ****** *** named ** ***********, * reference ** ********'* ******* in ********* * ****** with ****** *** ********* to ** **** *****. Franklin ******* ***'* ******** ability ** ** ******* acquisitions:

****'** **** ** ** a ********** ***** *****. I ****, ****'** ***** a $* ******* ********, but **'* **** ******** small ************

***, ** ******** **** in **** **** **** went ******, ** **** to **** *** **** larger:

* ***** ***** ** will ** ******* ** them, ** *** ****, in *** ****** ***** looking ** ****** ***********. So ** ***** **** to ***** **** ********. If *** **** ******, you ****, ** ******* off ** * $*** million ********, ** ***** up **** * ** and * **** ******* dollar ********. ** **** the **** ********* ****.

*** *** *****, **** post-Chubb **** ** ~$*.* billion *******, ***** **** APi ** ****** ** acquire **** **** ********* going *******.

***** ******** **** **** to ********* ********:

CEO **** ***** **** **** ********

********, ***'* **-**** ******* CEO******* ******, *** *** ****** the ******* ************ ** dozens ** (******) **** smaller ************, **** *** Cramer **** ******** *** J2 **** *** ***** home *** ***:

* **** * ********** right ****, **********, ** were *******, ****** ****, we **** *******. *** their ********** **********, *** know, ********* *** *******, you ****, ****** ************* was ********* **** *** very ********** ** **. And ** * **** feel **** ** ***** the ***** ****.

Carrier - ***** *****

*******, ***** ********* ~$**.* billion ** ******* ** 2020, *** **** *** of *** ** ****. They *** **** ****** to ****** ***** **** & ******** *** * few *****.

***** *********** * ***** part ** *******'* ******** and *** **** ************* related ** *** ***** businesses. ** ********, ***** will ** * *********** part ** ***'* ********, as *** ***** ***** shows:

High ********* *******

*** **** **** **% of *****'* ******* ** recurring ***** **** ************* improve *** ** **** dimension, ********** ****:

*****-**** ******* ********* ** maintain *** ****** ******* acquired ******* ***** ************ and *******

******** ****** ********* ***** and *********** ********* *******

Chubb ****** ** ************ *** ******

***** ***** ** *** of *** ******* **** and ****** *********** ********, at ~$* ******* ****** revenue, ***** ******** ** heavily ************ ****** * countries, ********** **% ** its *******: *** ** (where **** **** *******), Australia, ******, **** ****, France, *** *** ***********. Chubb **** *** **** a *********** ******** ** the ****** ******.

***** ******** ******** *** services **** ****** ******/***** ************ *********** ******** *********(*.*. ***** ************ *** access *******), ***** ***** supporting ******** (*.* ******* maintenance *** **********). *****'* revenue ** ******* ******* evenly ******* **** *** security ******* ********:

Combining *** *** *****

*** *********** ** ********* complimentary, **** *** ********** nearly *** *** ******* inside *** *** ******** to ***** *** **** so ****** ******** ******* of *** ***.

*** *********** ********* ***** revenues ** ~**% *** doubles *********:

*** ****** * *** showing ***** **** ******* they **** *** ** top ******* ********** ******* providers:

Comparable ************

** *** ******** *********** side, *** *** **** comparable ********* *** *** and **********, *** **** both **** ******** ************ in *** **** *** years, ****** **** ** those ********* *** ******** in *** ** **** APi *** ********** ******* than ***** ** *****'* strongest *******.

*******

**** **** *** **** enough ***** *** ** forecast ***** **** **** go. ***** ***********-******* ******** plan, ********* **** ****-***********, provides **** ** *********** to ****** * ***** competitor ********** *** *****. It **** ** *********** to *** ** *** acquires **** ******** *********** and ** **** ***** this.