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.”