Southwire recently announced the acquisition of Resideo’s Genesis Wire & Cable business. Resideo’s Genesis brand is a low-voltage wire and cable manufacturer that has built a reputation over the decades for its quality. The company provides critical connection for a bevy of residential and commercial applications, from fire and safety to entertainment, comfort, and security.
Rich Stinson, Southwire’s President and CEO, has said that Genesis, “Is a perfect fit for Southwire and our focus on innovation, service, and quality.” He also stated that the company’s product offering will lead to innovative solutions for a broader span of customers and will position Southwire for success in the present and future.
Genesis serves a broad swath of distributors, professional contractor customers, and dealers. Jay Geldmacher, Resideo’s President and CEO expressed his excitement regarding the sale of Genesis and believes it will optimize the company’s product portfolio and home in its long-term strategy and margin goals.
Gensis manufactures about 70% of its products in-house and buys 30% as finished goods that are ready for distribution from other manufacturers.
Norman Adkins, COO at Southwire, revealed some of Southwire’s plans through the acquisition by saying, “The company’s expertise in low-voltage wire and cable production will be instrumental as we continue to expand into new and emerging markets, especially within the Security and HVAC sales channels.”