M&A · Tech · Electronic Components & Accessories
Resideo Technologies, Inc. to acquire Snap One Holdings Corp.
Announced Apr 15, 2024 · Closed Jun 14, 2024
Deal value$1.40BEV $1.29B
Premium32.0%To unaffected price
EV / Adj. EBITDA11.6x1.2x EV / Revenue
ConsiderationAll cash$10.75 per share
Transaction
- Acquirer
- Resideo Technologies, Inc. (REZI)
- Target
- Snap One Holdings Corp. (SNPO)
- Buyer type
- Strategic
- Offer price per share
- $10.75
- Enterprise value
- $1.29B
- Status
- Closed Jun 14, 2024
Deal protections
- Break fee (target pays)
- $26.3M · 1.9%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- Committed · BofA Securities, Morgan Stanley
Advisors
- To the acquirer
- Evercore, Raymond James
- To the target
- Moelis, JPMorgan
- Moelis fee
- $13.5M
- JPMorgan fee
- $9.6M
Sector context · Tech
- Comparable deals
- 54 in the prior 24 months
- Premium
- 32.0% vs. 46.0% sector median
- EV / Adj. EBITDA
- 11.6x vs. 16.3x sector median
- Break fee
- 1.9% vs. 3.0% sector median
Timeline
- AnnouncedApr 15, 2024
- Proxy filedMay 14, 2024
- Definitive proxyMay 24, 2024
- Shareholder vote—
- ClosedJun 14, 2024
Valuation · fairness opinions
Trading comparablesMoelis$8.47$13.25
Trading comparablesMoelis$9.37$15.08
Precedent transactionsMoelis$7.06$11.36
Discounted cash flowMoelis$9.12$15.68
Analyst price targetsMoelis$10.00$12.00
Trading comparablesJPMorgan$8.45$13.25
Precedent transactionsJPMorgan$6.35$12.80
Precedent transactionsJPMorgan$6.70$13.30
Discounted cash flowJPMorgan$9.25$13.35
Offer $10.75
Implied value per Snap One Holdings Corp. share by analysis, from Moelis and JPMorgan.