RESIDEO ACQUIRES REGIONAL DISTRIBUTOR ARROW WIRE & CABLE
Resideo Technologies (NYSE: REZI) has acquired Arrow Wire & Cable, a regional distributor based in Chino, California. This acquisition, announced on February 14, 2022, strengthens Resideo's ADI Global Distribution business, enhancing its portfolio in Data Communications through a range of products and increased geographic reach. Arrow's established operations support Resideo's strategy for growth via tuck-in acquisitions, marking the fourth expansion since 2020. The transaction terms were not disclosed.
- Acquisition enhances ADI's Data Communications portfolio.
- Increases geographic footprint with new warehouse operations.
- Aligns with Resideo's strategic growth plan and expansion initiatives.
- None.
SCOTTSDALE, Ariz., Feb. 14, 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 Arrow Wire & Cable ("Arrow"), based in Chino, Calif. Arrow was founded in 1989 and is a leading regional distributor of data communications, connectivity and security products. With three strategically positioned warehouse stocking locations, Arrow serves customers across the West Coast and will be part of Resideo's ADI Global Distribution business.
"ADI is a critical component to Resideo's long-term growth. As such, we are strategically investing in the business organically while simultaneously pursuing tuck-in acquisitions. This two-pronged approach helps broaden our market reach and accelerate our growth," said Jay Geldmacher, President and CEO of Resideo. "The acquisition of Arrow aligns with ADI's strategic growth plan of expansion into adjacent categories, marking the fourth acquisition for our distribution business since 2020 and second in Data Communications."
Arrow strengthens ADI's portfolio in the Data Communications category with an assortment of copper and fiber cabling and connectivity, connectors, racking solutions, network equipment and more. Additionally, the acquisition increases ADI's geographic footprint with added warehouse and distribution operations to better enable ADI to meet the needs of customers.
"ADI is committed to providing our customers with the products, support and services they need, and we are always looking for ways to help them grow," said Rob Aarnes, President of ADI Global Distribution. "We identified Data Communications as a growth category for ADI and our customers. Arrow complements our offering and builds upon our Norfolk Wire & Electronics acquisition and organic investment to further define and grow our position in the Data Communications market."
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, 2020 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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