Resideo Technologies has agreed to sell ADI India’s distribution business to Moglix
ADI India represents the Indian distribution arm of ADI Global Distribution, a leading global wholesale distributor of security, audiovisual and low-voltage products, which is part of Resideo Technologies, Inc. ADI India operates 11 branch locations and represents more than 60 leading brands to provide customers with a comprehensive range of products and services.
Moglix has acquired ADI India’s distribution business with an aim to strengthen its product portfolio across video surveillance, access control and fire control products. Moglix will integrate all of ADI India’s offerings, sales partnerships, on-ground assets and workforce into its global supply chain ecosystem. With this acquisition, Moglix is leveraging the capital and expertise to further scale up the assortment strength and category depth of the company’s catalogue by two times.
Rahul Garg, Founder and Chief Executive Officer of Moglix, commented, “We are excited to welcome ADI India to the Moglix family. The integration of ADI India’s distribution network aligns with Moglix’s vision to create India’s largest distribution network for original equipment manufacturer brands across categories and take Indian manufacturing supply chain capabilities to the world. As we realize our mandate for growth and global expansion, we will continue to utilize funds to build a strong product portfolio and digital supply chain network for our customers and create value for all stakeholders.”
Partha Dash, Managing Director – New Business and Growth at Moglix, added, “ADI India has built a legacy of providing industry-leading distribution services, product assortment and extensive project support services. Its addition to Moglix’s ecosystem enables synergies through their on-ground customer touch points and distribution footprint combined with our asset-light, digital-first approach and touchless supply chain processes.”
Preet Singh, Managing Director in Lincoln’s Industrials Group, commented, “Moglix’s acquisition of ADI’s India distribution business reflects the emerging trend of brick and mortar businesses coming together with technology-driven internet platforms to offer better products and services to its customers. We expect this trend to continue with well-funded technology businesses on the lookout to combine with synergistic businesses.”
With end-to-end supply chain operations from strategic sourcing and digital procurement to financing, Moglix is a global digital supply chain solutions company. Its global sourcing and delivery footprint spans across more than 1,000 large enterprises; more than 500,000 micro, small and medium-sized enterprises and more than 18,000 suppliers across India and the Middle East. In January this year, Moglix reached an impressive valuation of $2.6 billion USD after receiving funding of $250 million USD from the F series funding round. With more than one million stock keeping units across 50 categories, Moglix offers the largest catalogue of industrial goods in the enterprise and small and mid-size enterprise procurement space in India.
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