Resideo acquires Snap One for $1.4bn

  • April 22, 2024
  • Steve Rogerson

Arizona home technology firm Resideo Technologies has acquired North Carolina-based Snap One, a provider of smart-living products, services and software to professional integrators, for $1.4bn.

On closure, Snap One will be integrated into Resideo’s ADI global distribution business.

The transaction will combine ADI’s position in security products distribution and Snap One’s complementary capabilities in the smart living market and Control4 technology platforms. Together, ADI and Snap One aim to provide integrators with an increased selection of third-party products and proprietary offerings through physical branches and digital capabilities.

“The acquisition of Snap One is an exciting step in Resideo’s continued transformation through portfolio optimisation, operational enhancements and structural cost savings actions,” said Jay Geldmacher, Resideo CEO. “ADI and Snap One are highly complementary businesses and together will meaningfully enhance our strategic and operational capabilities as a significant player in attractive growth categories. We are excited about the enhanced value proposition through increased product breadth, local availability, support services and broad market expertise, as well as the future opportunities this creates for integrators serving residential and commercial markets.”

John Heyman, CEO of Snap One, added: “Snap One has grown from a start-up built by entrepreneurial integrators to an industry leader in smart technology, delivering seamless experiences to consumers and high-quality services and support to our integrators. This is the right next step to capture new opportunities. The future of smart living is here. Demand for connected technology products continues to grow, and Resideo is the right owner to drive our expansion. We believe this transaction will deliver compelling value to our stakeholders and will create opportunities for our people and integrator partners.”

Resideo intends to use proceeds from committed debt financing, cash on hand, and a $500m perpetual convertible preferred equity investment from Clayton, Dubilier & Rice (CD&R) to fund the transaction.

“The investment by CD&R is a testament to the strategic and financial merits of this transaction and provides financial flexibility as we continue to transform and optimise our portfolio,” said Geldmacher. “We look forward to the ADI and Snap One teams working together to drive value for all stakeholders through executing on the substantial business and financial synergies we see in combining the two businesses.”

Nathan Sleeper, CD&R ( CEO, added: “We are excited to support Resideo on this highly strategic acquisition and in their ongoing transformation. I look forward to joining Resideo’s board of directors and supporting the business as it executes on this transaction and the significant opportunity we see available over the coming years.”

The acquisition will combine Snap One’s capabilities for smart living integrators with ADI’s complementary position in security products distribution. This cross-category expansion should allow the combined organisation to deepen relationships with integrators to serve their customers and expand their businesses.

The transaction is expected to be accretive to Resideo non-GAAP EPS in the first full year of ownership, with favorable revenue growth and margin profile to ADI and Resideo as a whole. Transaction financing has been structured to allow Resideo to preserve financial flexibility for future initiatives.

The transaction is expected to be completed in the second half of 2024 and is subject to customary closing conditions. The transaction has been unanimously approved by the boards of directors of Resideo ( and Snap One (