The company announced that President and CEO Jay Geldmacher will retire in 2025 as the company prepares for CEO succession.
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ADI's landmark acquisition of Snap One earlier this year continued to drive major annual sales gains, while organic also improved.
The distributor’s recent acquisition of Snap One accounted for $45 million of the company’s 2Q sales of $959 million.
Ahead of Resideo's major acquisition of Snap One that will signficantly expand ADI, the unit saw 1Q volume declines in several categories.
Snap One - a manufacturer and distributor of of smart-living products and services - will be integrated into Resideo's ADI Global Distribution unit.
Meanwhile, gross margin at Resideo's manufacturing business unit saw solid improvement during 4Q23.
XTEN-AV provides a collaborative software platform for integrators to conceptualize designs and streamline proposal processes.
Resideo's Louisville facility houses employees in its ADI Global Distribution and Products & Solutions businesses.
The pace of mergers and acquisitions among industrial distributors and manufacturers stalled in March following several strong months.
BTX is the sixth acquisition since 2020 for Resideo's Distribution business.
M&A activity slowed somewhat in February, but the month wrapped up on an announcement that will likely draw eyes from across the distribution industry.
The global provider of security solutions and security and audio-visual products announced it has acquired the California-based company.
