Cadre Holdings Inc., which has been actively seeking acquisition opportunities, announced a deal Feb. 20 to acquire a nuclear safety solutions company.
Jacksonville-based Cadre said it agreed to buy Colorado-based Alpha Safety Intermediate LLC for $106.5 million.
Cadre makes safety and survivability products mainly for law enforcement and first responders.
Alpha Safety provides products and services focused on radiation protection and safety.
Cadre CEO Warren Kanders said in a news release the acquisition fits in with the company’s objectives of diversifying its business.
“Alpha Safety is an ideal Cadre business. It is a leading manufacturer of engineered technical products supporting mission critical initiatives with highly-visible, recurring revenue and compelling growth opportunities with entrenched customers,” he said.
“Entering an attractive new vertical with a large and growing total addressable market, adjacent to our core safety focus, was a strategic imperative, and we are pleased to capitalize on this opportunity.”
Cadre said Alpha Safety generated about $44 million in revenue in 2023. Cadre reported sales of $357.9 million in the first nine months of the year.
Cadre was formed from businesses that were a part of Jacksonville-based Armor Holdings Inc.
England-based BAE Systems Inc. bought Armor in 2007 but in 2012, Kanders led an investment group that bought back the subsidiary that focused on products for first responders.
Kanders took Cadre public in 2021 and has looked to continue growing the company through acquisitions.
Cadre expects to close the Alpha Safety deal during the first quarter of 2024.