Cadre Holdings, Inc. Announces Acquisition of TYR Tactical

Cadre Holdings, Inc. has entered into a definitive agreement to acquire TYR Tactical, a leading manufacturer of mission-critical personal protective equipment and tactical gear for military and law enforcement globally. The total consideration for the acquisition is $175 million, including $150 million in cash and $25 million in CDRE stock. TYR Tactical is headquartered in Peoria, Arizona, with additional facilities in El Paso, Texas; Ontario, Canada; and Aarhus, Denmark. The acquisition is expected to be immediately accretive to earnings and adjusted EBITDA margins, providing significant entry into new markets, particularly European military and defense. TYR Tactical generated $93 million in revenue in FY2024 and offers unique capabilities in manufacturing plates and shields engineered with next-generation advanced materials. The acquisition aligns with Cadre's strategic focus on mission-critical products with high margins, strong cash flows, and resilience through market cycles.