Cadre Holdings has completed its previously announced acquisition of TYR Tactical, adding a tactical gear and equipment provider serving military, law enforcement, and government agencies worldwide. The transaction strengthens Cadre’s portfolio of safety equipment and related products across law enforcement, first-responder, military, and nuclear end markets, and expands the company’s reach through new engineering capabilities and customer exposure.
The purchase price included $120 million in cash and $24 million of Cadre common stock, plus $1 million of Cadre common stock in the form of restricted stock unit awards to be granted to certain TYR Tactical employees. The seller is also eligible to receive up to $25 million in contingent earn-out consideration, payable in cash, unregistered shares of common stock, or a combination at Cadre’s discretion, tied to specified net revenue targets for calendar years 2026, 2027, and 2028. Immediately after the transaction closed, Cadre also acquired certain real property owned by an affiliate of TYR Tactical for $30 million in cash.
Cadre said the addition of TYR Tactical is expected to be immediately accretive to earnings and adjusted EBITDA margins. The transaction was financed using cash on Cadre’s balance sheet and borrowings under its senior credit facility.
Headquartered in Jacksonville, Cadre manufactures and distributes safety products used globally, with core offerings including body armor, explosive ordnance disposal equipment, duty gear, and nuclear safety products. The company’s brands include Safariland and Med-Eng, among others, and its equipment is used in over 100 countries by federal, state, and local agencies and emergency responders.
KEY QUOTES:
“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. 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.”
Warren Kanders, CEO and Chairman, Cadre Holdings
