Clayton Dubilier & Rice-backed Resideo Technologies completed the acquisition of Snap One from Hellman & Friedman for $1.4bn.

Clayton Dubilier & Rice-backed Resideo Technologies, a manufacturer and distributor of technology-driven products and solutions, completed the acqusition of Snap One, a provider of smart-living products, services, and software to professional integrators, from Hellman & Friedman, an American private equity firm, for $1.4bn. "We are pleased to complete this transaction and excited to officially welcome the Snap One team to Resideo. This is an important step in our ongoing transformation across Resideo as we focus on accelerating profitable growth. The combination better positions the business in attractive growth categories, adds new higher-margin proprietary products and services, and broadens ADI's customer base. Resideo's future is bright as we work to simplify the connected world, creating value for our customers and shareholders," Jay Geldmacher, Resideo President and CEO.