Resideo Acquires A/V Equipment Distributor Herman ProAV
The purchase is said to further enhance the growing professional A/V business within ADI Global Distribution and related overall gross margin expansion.
AUSTIN, Texas — Resideo Technologies (NYSE: REZI) has acquired privately held Herman ProAV, a leading provider and distributor of professional A/V products, procurement services and labor resources to systems integrators in the commercial A/V industry.
Terms of the transaction were not immediately disclosed.
Based in Miramar, Fla., Herman ProAV serves customers across the United States and will be part of Resideo’s ADI Global Distribution business. The company operates three additional distribution facilities located in Atlanta, New Jersey and Nevada.
“ADI is a cornerstone of Resideo’s growth and continues to expand its presence as the global leader in low voltage security and audio-visual distribution,” says Mike Nefkens, president and CEO of Resideo. “Herman’s product offering and compelling services model are perfectly aligned with ADI, and this acquisition will help us reach new customers across the pro-A/V market.”
Nefkens continues, “This is an important acquisition for our distribution business as part of our ongoing strategic initiative to identify and execute on investments that accelerate topline growth and expand margins.”
In an announcement, Resideo cites market research by AVIXA, the Audiovisual and Integrated Experience Association, which forecasts the pro-A/V market in the Americas will grow to more than $112 billion in 2024, from $89 billion in 2019.
The Herman ProAV acquisition builds upon ADI’s product portfolio and expands its presence in the pro-A/V market. In addition to top-tier professional A/V products, the acquisition includes Herman Integration Services, which provides A/V systems integrators with trained and industry-certified technicians, project managers, programmers and engineers.
“ADI already has a strong and growing presence in the pro-A/V market, and with the addition of Herman’s deep industry experience and subcontracting services, we will be able to offer our customers compelling opportunities to grow and make ADI their indispensable partner of choice,” says Rob Aarnes, president, ADI. “We are always looking for ways to help our customers grow their businesses, and with this acquisition, we’re helping them to expand into new product categories and services, and capitalize on the fast-growing professional A/V segment.”
Jeffrey Wolf, general manager, Herman ProAV, says the transaction “represents the start of the next great chapter for the organization,” which was established more than 55 years ago.
“I am incredibly proud of all that we have achieved over the years for our employees, customers, suppliers and the industry overall, and we are extremely enthusiastic to leverage ADI’s resources and world class capabilities to propel our offerings and deliver greater value to the pro-AV industry,” Wolf continues.
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