International. Resideo recently signed a definitive agreement to acquire First Alert, Inc., a provider of home security products, from Newell Brands Inc. for $593 million in a cash transaction, or approximately $547 million net of expected future tax benefits.
Established in 1969 and headquartered in Aurora, Illinois, First Alert is a specialist in the home security market with a strong omnichannel presence serving end users directly through retail and e-commerce channels and professional contractors through relationships with distributors and home builders.
First Alert offers a comprehensive portfolio of detection and suppression devices including smoke alarms, carbon monoxide (CO) alarms, combined alarms, connected fire and CO devices, and fire extinguishers and other suppression solutions. The products are marketed through the First Alert, BRK and Onelink® brands.
"The addition of First Alert to resideo's portfolio provides a highly complementary extension of our existing in-home sensor solutions," said Jay Geldmacher, CEO of Resideo. "First Alert not only provides a leading brand and market position in home security, but its products also occupy a highly strategic position on the roof."
Financial details
For the year ended December 31, 2021, First Alert generated approximately $395 million in sales and adjusted EBITDA of approximately $55 million.
Resideo aims to achieve $30 million in annual cost synergies by the end of 2023 from the integration of manufacturing and distribution operations, and overall commercial and operational support efficiency efforts.
First Alert has more than 2800 employees and its operations include manufacturing in Juarez, Mexico, and a primary distribution facility in El Paso, Texas.
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