Resideo Acquires Electronic Custom Distributors
Resideo Technologies, Inc. (NYSE: REZI) has acquired Electronic Custom Distributors (ECD), a key player in the audio, video, and automation distribution sector based in Houston, Texas. This acquisition enhances Resideo's ADI Global Distribution network and expands its presence in the residential AV and Smart Home markets. With ECD's established branch locations serving the Texas, Oklahoma, Louisiana, and Arkansas regions, Resideo aims to drive growth utilizing ECD's exclusive product lines and comprehensive portfolio. The terms of the transaction remain undisclosed.
- Acquisition strengthens Resideo's ADI Global Distribution presence in the residential AV and Smart Home market.
- ECD's established network enhances market penetration across Texas, Oklahoma, Louisiana, and Arkansas.
- Broadens product offerings with exclusive private brand products, expected to drive diversified growth.
- None.
Acquisition builds upon growing AV and Smart Home product category within ADI Global Distribution
SCOTTSDALE, Ariz., July 6, 2022 /PRNewswire/ -- Resideo Technologies, Inc. (NYSE: REZI), a leading global provider of home comfort and security solutions and distributor of commercial and residential security and audio-visual products, today announced it has acquired privately held Electronic Custom Distributors, Inc. ("ECD"), based in Houston, Texas. ECD was founded in 1960 and is a leading regional distributor of residential audio, video, automation, security, wire and telecommunication products. With four branch locations and a 30,000 sq. ft. distribution center, ECD serves AV contractors across the Texas, Oklahoma, Louisiana and Arkansas (TOLA) region, and will be part of Resideo's ADI Global Distribution business.
"With a strong strategic plan in place, we continue to invest in ADI organically and by pursuing tuck-in acquisitions to bolster our growth and expand our customer and supplier relationships," said Jay Geldmacher, President and CEO of Resideo. "ECD aligns with our strategy and marks the fifth acquisition for our distribution business since 2020. With an expanded product offering that includes private brands, we're confident this acquisition will help further accelerate diversified growth for ADI across the overall AV and Smart Home market."
ECD builds upon ADI's presence in the residential AV and Smart Home market with a comprehensive portfolio of products from key industry brands, along with a growing assortment of Pro AV products for commercial installations. Additionally, the acquisition increases ADI's branch presence in the TOLA region and expands its private brand offering with exclusive product lines.
"ADI remains committed to helping our customers grow by providing them with access to the products, services and support they need to capitalize on new opportunities," said Rob Aarnes, President of ADI Global Distribution. "We identified Residential AV and Pro AV as growth categories for ADI and our customers. ECD accelerates our growth in the Residential AV and Smart Home categories and complements our previous acquisitions in Pro AV (Herman Pro AV and Shoreview Distribution) to further expand our portfolio, and position ADI as the indispensable partner of choice."
Terms of the transaction were not disclosed.
About Resideo
Resideo is a leading global manufacturer and distributor of technology-driven products and solutions that provide comfort, security, energy efficiency and control to customers worldwide. Building on a 130-year heritage, Resideo has a presence in more than 150 million homes, with 15 million systems installed in homes each year. We continue to serve more than 110,000 professionals through leading distributors, including our ADI Global Distribution business, which exports to more than 100 countries from nearly 200 stocking locations around the world. For more information about Resideo, please visit www.resideo.com.
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Forward-Looking Statements
This release contains "forward-looking statements." All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Although we believe forward-looking statements are based upon reasonable assumptions, such statements involve known and unknown risks, uncertainties, and other factors, which may cause the actual results or performance of the company to be materially different from any future results or performance expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, those described under the headings "Risk Factors" and "Cautionary Statement Concerning Forward-Looking Statements" in our Annual Report on Form 10-K for the year ended Dec. 31, 2021 filed with the Securities and Exchange Commission ("SEC"). You are cautioned not to place undue reliance on these forward-looking statements. Forward looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements. Except as required by law, we undertake no obligation to update such statements to reflect events or circumstances arising after the date of this press release, and we caution investors not to place undue reliance on any such forward-looking statements.
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SOURCE Resideo Technologies, Inc.
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