Chubb Fire & Security
 | |
| Company type | Subsidiary of UTC |
|---|---|
| Industry | Fire and Security |
| Founded | 1818 |
| Founder | Charles & Jeremiah Chubb |
| Headquarters | , |
Key people | Simon Quillish |
| Parent | United Technologies Corporation |
| Website | www.chubb.co.uk |
Chubb Fire & Security is a British, American-owned fire and security business. It is owned by American company United Technologies Corporation.
History
The Company was founded by Charles and Jeremiah Chubb, who patented their Chubb detector lock in 1818. The Company won a government competition for a lock which could not be opened other than by its own key.[1] 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.[2] In the 1800s, Chubb gained some important customers such as the Duke of Wellington and the Bank of England.[3] Over the next 100 years the company turned out more than 2.5m locks.[2]
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).[4]
It was bought by Racal Electronics in 1984 from which it was demerged in 1992 before being acquired by Williams Holdings in 1997[5] as the latter company sought to build a security-focused conglomerate. Chubb was again demerged in 2000.[2]
In 2000 Chubb sold Chubb Locks, its lock and safe-making unit, to Assa Abloy and concentrated on security systems such as door access and CCTV systems.[6] In 2002 Chubb held intensive acquisitions talks with Sweden-based Securitas AB, the world's biggest security services business. After 18 months of negotiations,[7] the talks were called off on the grounds that the deal would not be "financially attractive" to either company's shareholders.[8] In 2003 Chubb was acquired for £622m by United Technologies Corporation.[9] 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 in UTC Fire & Security. In 2013, Chubb's Australian cash in transit business was sold to Prosegur.[10]
Operations
Chubb subsidiaries around the world now form an important part of the UTC Business & Industrial Systems Division.
See also
- Chubb Fire
- Chubb Locks
- Read and Campbell Limited
- Minimax Limited
- Rampart Engineering
- The Pyrene Company Limited
References
- ^ A Gazetteer of Lock and Key Makers, A Gazetteer of Lock and Key Makers
- ^ a b c 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
- ^ "Early Sales/Offices/ChubbGroup/1980s & on". Chubbarchive.pwp.blueyonder.co.uk. Retrieved 2011-12-21.
- ^ Williams of Britain to buy Chubb Security New York Times, 15 February 1997
- ^ 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
- ^ Prosegur Compania de Seguridad SA through subsidiary acquires Chubb Security Services Pty Limited, Reuters, Dec 16, 2013
External links
