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Resideo Technologies Acquires Norfolk Wire & Electronics

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https://www.mdm.com/news/operations/resideo-technologies-acquires-norfolk-wire-electronics/?utm_source=rss&utm_medium=rss&utm_campaign=resideo-technologies-acquires-norfolk-wire-electronics

Resideo Technologies, Inc. (NYSE: REZI) on April 1 announced it has acquired privately held Norfolk Wire & Electronics, based in Richmond, Virginia. Founded in 1985, Norfolk is a regional distributor of security, telecom, network and audio-video related products, supplies and tools. Norfolk serves customers across the mid-Atlantic region, and will be part of Resideo’s ADI Global Distribution business, a wholesale distributor of security, AV and low-voltage products. Terms of the transaction were not disclosed.

“ADI is core to Resideo’s long-term growth, and this acquisition aligns with our strategy to identify and execute on tuck-in acquisitions that accelerate ADI’s expansion in adjacent categories,” says Jay Geldmacher, president and CEO of Resideo. “The products and services of Norfolk Wire & Electronics complement ADI’s existing offerings and expand our reach into an attractive growth market.”

The post Resideo Technologies Acquires Norfolk Wire & Electronics appeared first on Modern Distribution Management.

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