Resideo acquires First Alert
Resideo Technologies, Inc., provider of home comfort and security solutions, announced that it has entered into a definitive agreement to acquire First Alert, Inc., a leading provider of home safety products, from Newell Brands Inc. for $593 million in an all-cash transaction.
“The addition of First Alert to the Resideo portfolio provides a highly complementary extension of our existing sensor solutions in the home,” said Jay Geldmacher, Resideo CEO. “Not only does First Alert bring a leading brand and market position in home safety, but its products also occupy a highly strategic position on the ceiling.”
Geldmacher said, “First Alert advances our strategy of expanding Resideo’s presence with contractors and broadening our suite of sensors for the home.”
First Alert offers a comprehensive portfolio of detection and suppression devices including smoke alarms, carbon monoxide (CO) alarms, combination alarms, connected fire and CO devices, and fire extinguishers and other suppression solutions.
“We see significant operational synergies with First Alert’s strength in retail and relationships with leading homebuilders and Resideo’s strong partnership with professional contractors and distributors,” said Geldmacher.
Established in 1969, Aurora, Ill.-based First Alert is a leader in the home safety market with a strong omni-channel presence serving end users directly through retail and e-commerce channels and professional contractors through relationships with distributors and homebuilders.
Products are marketed through the First Alert, BRK and Onelink® brands.
Resideo is a leading global manufacturer and distributor of technology-driven products and solutions that provide comfort, security, energy efficiency and control to customers worldwide. Building on a 130-year heritage, Resideo has a presence in more than 150 million homes, with 15 million systems installed in homes each year.
Newell Brands is a leading global consumer goods company with a strong portfolio of well-known brands, including Rubbermaid, FoodSaver, Calphalon, Sistema, Sharpie, Paper Mate and more.