Jacksonville, Fla., Feb 03 — Cadre Holdings, Inc. (NYSE: CDRE) (“Cadre” or “the Company”), a global leader in the manufacturing and distribution of safety equipment and other related products for the law enforcement, first responder, military and nuclear markets, has completed the Company’s previously announced acquisition of TYR Tactical, LLC, a leading global manufacturer of tactical gear and equipment for military, law enforcement, and government agencies worldwide.
The purchase price consisted of $120.0 million of cash and $24.0 million of Cadre common stock, as well as $1.0 million of Cadre common stock in the form of restricted stock unit awards to be granted to certain employees of TYR Tactical1. In addition, the seller will be eligible to receive up to $25.0 million in additional contingent earn-out consideration, payable in cash, unregistered shares of common stock, or a combination thereof, at the Company’s discretion, based on the achievement of specified net revenue targets for the calendar years 2026, 2027, and 2028. Immediately following the transaction, the Company acquired certain real property owned by an affiliate of TYR Tactical for $30.0 million of cash.
The addition of TYR Tactical is expected to be immediately accretive to earnings and adjusted EBITDA margins. The transaction was financed with cash available on Cadre’s balance sheet and borrowings under its senior credit facility.
“We are pleased to have closed this strategic acquisition, which immediately provides Cadre with world-class engineering capabilities, substantial exposure to the European defense market, and a broader network of elite defense and law enforcement customers,” said Warren Kanders, CEO and Chairman of Cadre. “Co-founders Jason and Jane Beck have established TYR Tactical as a best-in-class brand, delivering must own tactical defense products, and we look forward to continued collaboration to capitalize on compelling growth opportunities. Looking ahead, Cadre maintains robust M&A pipelines in both the public safety and nuclear markets, and we remain committed to expanding our portfolio, while continuing to enhance the Company’s market leadership across categories.”