Chubb Security
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| Type | Subsidiary of UTC |
|---|---|
| Industry | Electronic Security and Fire Safety |
| Founded | 1818 |
| Founder(s) | Charles & Jeremiah Chubb |
| Headquarters | Middlesex, United Kingdom |
| Key people | Michael Gebert |
| Parent | United Technologies Corporation |
| Website | www.chubb.co.uk |
Chubb Security is an electronic security and fire safety business. It is owned by United Technologies Corporation.
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[edit] History
The Company was founded by Charles and Jeremiah Chubb, who patented their Chubb detector lock in 1818. Apparently the Prince Regent accidentally sat on a Chubb lock complete with its key.[1] The Company won a government competition for a lock which could not be opened other than by its own key.[2] In 1835, the company produced its first Chubb safe at its factory in Wolverhampton and, in the second half of the 19th century, the company expanded into the US and produced a time lock that was fitted to bank vaults across the country.[3] In the 1800s, Chubb gained some important customers such as the Duke of Wellington and the Bank of England.[4] Over the next 100 years the company turned out more than 2.5m locks.[5]
After World War II, Chubb expanded its operations in 17 countries. From being a single company manufacturing specialized security products it turned into a broad based group of companies covering not only many aspects of security but fire protection as well. The company went on to acquire a number of rival firms including Chatwood-Milner Ltd. (1958), Burgot Alarms Ltd and Rely-a-Bell (1962), Read and Campbell Limited (1964), Josiah Parkes and Sons Ltd. (1965) and The Pyrene Company Limited (1967).[6]
It was bought by Racal Electronics in 1984 from which it was demerged in 1992 before being acquired by Williams Holdings in 1997[7] as the latter company sought to build a security-focused conglomerate. Chubb was again demerged in 2000.[8]
In 2000 Chubb sold Chubb Locks, its lock and safe-making unit, to Assa Abloy of Sweden and concentrated on security systems such as door access and CCTV systems.[9] In 2002 Chubb held intensive acquisitions talks with Sweden-based Securitas, the world's biggest security services business. After 18 months of negotiations,[10] the talks were called off on the grounds that the deal would not be "financially attractive" to either company's shareholders.[11] In 2003 Chubb was acquired for £622m by United Technologies Corporation.[12] In 2007 UTC bought Initial Fire and Security, the security arm of Rentokil Initial and proceeded to merge the business and its assets with Chubb.
[edit] Operations
Chubb subsidiaries around the world now form an important part of the UTC Fire & Security Division.
Chubb Australia may provide secure delivery of readies to major banks, including off licenses, Westpac, Commonwealth Bank, and ANZ.
[edit] See also
[edit] References
- ^ Chubb: An Overview web page Chubb
- ^ A Gazetteer of Lock and Key Makers, A Gazetteer of Lock and Key Makers
- ^ COMPANIES & FINANCE UK & IRELAND: Chubb's safe blown wide open but will there be anything left inside?, Financial Times, Apr 23, 2003
- ^ The History of Chubb Locks Custodial Services, Chubb Locks Custodial
- ^ COMPANIES & FINANCE UK & IRELAND: Chubb's safe blown wide open but will there be anything left inside?, Financial Times, Apr 23, 2003
- ^ "Early Sales/Offices/ChubbGroup/1980s & on". Chubbarchive.pwp.blueyonder.co.uk. http://chubbarchive.pwp.blueyonder.co.uk/page8.html. Retrieved 2011-12-21.
- ^ Williams of Britain to buy Chubb Security New York Times, 15 February 1997
- ^ COMPANIES & FINANCE UK & IRELAND: Chubb's safe blown wide open but will there be anything left inside?, Financial Times
- ^ Troubled Chubb agrees £622m UTC takeover, The Independent
- ^ Securitas halts Chubb merger, BBC News Online
- ^ Chubb slips as Securitas calls off acquisition talks, Telegraph.co.uk
- ^ United Technologies of US is in talks on £1bn takeover of Chubb, Financial Times, Apr 21, 2003
[edit] External links
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