Resideo to acquire First Alert for $593M cash; provides preliminary Q4 revenue of $1.454B

RESIDEO TECHNOLOGIES, INC.

Purchase price $593M cash, net of ~$46M tax benefits ~$547M; expected close in Q1 2022.
First Alert 2021 sales $395M, adjusted EBITDA $55M; $30M annual cost synergies targeted by end 2023.
Transaction multiple ~6.4x 2021 adjusted EBITDA net of tax benefits and cost synergies.
Preliminary Q4 2021 revenue $1.454B, gross margin 27.2%, operating profit $141M; full results Feb 15.

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