Cadre Holdings Completes Acquisition of ICOR Technology
January 10 2024 - 3:15PM
Business Wire
Cadre Holdings, Inc. (NYSE: CDRE) (“Cadre” or “the Company”), a
global leader in the manufacturing and distribution of safety and
survivability equipment for first responders, has completed the
Company’s previously announced acquisition of ICOR Technology Inc.
(“ICOR”), a leading manufacturer and distributor of explosive
ordnance disposal (“EOD”) robots and specialized protective
security equipment for EOD and military organizations worldwide.
Consistent with Cadre’s strategic focus, ICOR’s products provide
users the critical protection they need to safely perform their
duties and protect those around them in hazardous or
life-threatening situations.
The acquisition is expected to be immediately accretive. The
purchase price was funded through available cash on the Company’s
balance sheet.
CIBC Mid-Market Investment Banking acted as exclusive financial
advisor to ICOR Technology Inc.
About Cadre
Headquartered in Jacksonville, Florida, Cadre is a global leader
in the manufacturing and distribution of safety and survivability
products for first responders. Cadre's equipment provides critical
protection to allow users to safely and securely perform their
duties and protect those around them in hazardous or
life-threatening situations. The Company's core products include
body armor, explosive ordnance disposal equipment, and duty gear.
Our highly engineered products are utilized in over 100 countries
by federal, state and local law enforcement, fire and rescue
professionals, explosive ordnance disposal teams, and emergency
medical technicians. Our key brands include Safariland® and
Med-Eng®, amongst others.
Forward-Looking Statements
Please note that in this press release we may use words such as
“appears,” “anticipates,” “believes,” “plans,” “expects,”
“intends,” “future,” and similar expressions which constitute
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include but are not limited to all
projections and anticipated levels of future performance.
Forward-looking statements involve risks, uncertainties and other
factors that may cause our actual results to differ materially from
those discussed herein. Any number of factors could cause actual
results to differ materially from those expressed or implied by
forward-looking statements in this press release, including without
limitation, any material differences in the actual financial
results of the Company’s acquisition of ICOR as compared with
expectations, including without limitation, the impact of the ICOR
acquisition on the price of the Company’s shares of commons stock
or the business, results of operations, and financial condition of
the Company, as well as those risks and uncertainties more fully
described from time to time in the Company's public reports filed
with the Securities and Exchange Commission, including under the
section titled “Risk Factors” in the Company's Annual Report on
Form 10-K, and/or Quarterly Reports on Form 10-Q, as well as in the
Company’s Current Reports on Form 8-K. All forward-looking
statements included in this press release are based upon
information available to the Company as of the date of this press
release, and speak only as of the date hereof. We assume no
obligation to update any forward-looking statements to reflect
events or circumstances after the date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240110662831/en/
Gray Hudkins Cadre Holdings, Inc. 203 550 7148
gray.hudkins@cadre-holdings.com Investor Relations: The IGB
Group Leon Berman / Matt Berkowitz 212 477 8438 / 212 227 7098
lberman@igbir.com / mberkowitz@igbir.com Media: Jonathan
Keehner / Andrew Siegel Joele Frank, Wilkinson Brimmer Katcher 212
355 4449
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