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Resideo completes sale of Genesis Cable business

Resideo completes sale of Genesis Cable business

SCOTTSDALE, AZ – Resideo Technologies announced the completion of the previously announced sale of its Genesis Cable business to Southwire Company, LLC for $87.5 million in cash, subject to customary purchase price adjustments.

The after-tax proceeds will be used to support Resideo's capital allocation strategy the company wrote in a release. That includes ongoing organic and inorganic investments and their recently announced share repurchase program.

"The closing of the Genesis sale represents our commitment to optimizing our product portfolio and our continued focus on value creation opportunities across our Products and Solutions business," said Jay Geldmacher, Resideo's President and CEO. "Genesis remains a strong partner to our ADI Global Distribution business and we look forward to our continued partnership as they join an industry leader in Southwire."

Genesis is a U.S. low-voltage cable manufacturer providing connection for a wide range of residential and commercial applications that includes comfort, security, network and communications, entertainment, and fire and safety. It manufactures approximately 70% of its products in-house and serves a broad set of distributor, dealer, and professional contractor customers.


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