Residio, Owners of ADI and Honeywell Home, Just Entered the Commercial AV Market By Buying Herman ProAV
- Industry News & Latest Trends
- 12 Feb, 2020
Resideo Technologies (the $4.8 billion owners of ADI and Honeywell Home) announced Tuesday it has acquired privately-held Herman ProAV, based in Miramar, Florida. Herman ProAV is a distributor of ProAV gear but also offers procurement services and labor resources to AV systems integrators in the commercial AV industry. Herman ProAV serves customers across the United States and will be part of Resideo’s ADI Global Distribution business, a leading wholesale distributor of security, AV and low-voltage products.
This is a very good strategic move for Residio and, very logical. As the residential AV market is collapsing into a sea of app-based products, this offers instant diversification for Residio into the ProAV space. Although Herman ProAV is small (rAVe estimates 2019 revenue to be in the range of $40 Million), they literally have a portfolio of over 100 ProAV brands.
“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,” said 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-AV market. 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.”
“ADI already has a strong and growing presence in the ProAV 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,” said Rob Aarnes, president of Resideo’s ADI Global Distribution business. “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 AV segment.”