ADI Global Distribution expands with Norfolk Wire & Electronics
Terms of the transaction were not disclosed
April 1, 2021 By SP&T Staff
Resideo Technologies, Inc. announced it has acquired privately held Norfolk Wire & Electronics, based in Richmond, Va.
“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,” said Jay Geldmacher, president and CEO of Resideo in a prepared statement. “The products and services of Norfolk Wire & Electronics complement ADI’s existing offerings and expand our reach into an attractive growth market.”
The Norfolk acquisition builds upon ADI’s presence in the Data Communications market with an assortment of copper and fiber cabling, connectors, racking products and more. Additionally, the acquisition increases ADI’s branch presence in the mid-Atlantic region and strengthens its local bulk product availability and custom cutting services, pre-and-post technical support and project assistance.
“The increased need for high speed connectivity, growth in IOT industrial devices and the introduction of new technologies are driving demand for Data Communications products,” said Rob Aarnes, President of ADI Global Distribution. “ADI remains committed to ensuring our customers have immediate access to all the products and equipment they need to be successful in today’s market. This acquisition expands our offering in a growing category and will allow us to serve more customers.”
Terms of the transaction were not disclosed.
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