Cadre Holdings Appoints Gianmaria Delzanno to its Board of Directors

Rhea-AI Summary

Cadre Holdings (NYSE: CDRE) has announced the appointment of Gianmaria Delzanno to its board of directors, effective January 13, 2025. He will replace retiring director Nicholas Sokolow as lead independent director and Chairman of the Nominating and Corporate Governance Committee, while also serving on the Audit and Compensation Committees.

Delzanno brings over 40 years of experience in M&A, corporate financing, and private equity. He has been President of Delzanno & Co. Inc. since 1996, previously held positions at Schroder Wertheim & Co. and S.G. Warburg & Co., and has extensive board experience across various industries. The appointment aligns with Cadre's M&A-focused growth strategy, leveraging Delzanno's expertise in mergers, acquisitions, and corporate finance.

Positive

• Strategic appointment of seasoned M&A executive aligns with company's inorganic growth strategy
• New director brings 40+ years of experience in corporate finance and M&A
• Seamless board transition with clear timeline and role assignments

Negative

• Loss of 12-year veteran board member with institutional knowledge

JACKSONVILLE, Fla.--(BUSINESS WIRE)-- 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, announced the appointment of Gianmaria Delzanno to its board of directors, effective as of January 13, 2025. Current Director Nicholas Sokolow, who joined the board of Cadre’s predecessor in July of 2012, will retire from the Company’s board, effective as of January 31, 2025. Upon Mr. Sokolow’s departure, Mr. Delzanno will replace Mr. Sokolow as the lead independent director and will also serve as Chairman of the Nominating and Corporate Governance Committee as well as a member of the Audit Committee and the Compensation Committee.

“We are pleased to welcome a seasoned executive of Gianmaria’s caliber to our Board,” said Warren Kanders, CEO and Chairman. “M&A is a key tenet of the Company’s strategy, and we look forward to leveraging Gianmaria’s broad network of relationships and expertise as we continue to strengthen Cadre’s platform and capitalize on inorganic growth opportunities. On behalf of the Company, I’d also like to thank Nick Sokolow for his 12 years of dedicated service to Cadre. His consistent support and thoughtful counsel have been instrumental in shaping Cadre over the last two-plus decades into a global leader in public safety.”

Mr. Sokolow stated, “I have had the honor of being involved with the core Cadre business off and on for nearly 30 years and am grateful to all the talented executives, employees and my fellow Board colleagues for the meaningful collaboration during my tenure. With outstanding leadership in place, Cadre is well positioned for continued success, and I look forward to watching the next steps in its evolution.”

Mr. Delzanno is a veteran finance executive with over 40 years of experience in domestic and international M&A, corporate financing, debt and equity offerings and private equity. Since 1996, Mr. Delzanno has served as the President of Delzanno & Co. Inc., a firm that he founded, advising domestic and international publicly traded and privately held companies in mergers and acquisitions, as well as providing corporate finance, restructuring, and general advisory and valuation services. From 1984 to 1996, Mr. Delzanno worked for the investment bank Schroder Wertheim & Co. Incorporated, where he was a Director in the Industrial Manufacturing Group, and led transactions including IPOs, M&A, private placements, and debt offerings. Prior to that, he served as a Manager and Corporate Finance Analyst at the investment bank S.G. Warburg & Co., Ltd in New York and London.

Mr. Delzanno also has decades of Board experience across industries, with roles as Chairman, board member, audit and compensation committee member. From 2015 to 2021, he served on the board of Tempel Steel Company, a family-owned manufacturer of components for electric motors and transformers with operations in the US, Canada, Mexico, China and India. Additional experience includes Board roles with Transfer Rapid Corporation (2007-2019), a money transfer company, and Ansaldo Sistemi Industriali (2000-2004), an Italian manufacturer of motor drives.

Amongst his non-profit activities, Mr. Delzanno served as a board member for Teatro alla Scala Foundation, USA. He received his M.B.A from Columbia Business School and graduated with a B.S. in Applied Mathematics and Economics from Brown University.

Mr. Delzanno stated, “I am thrilled to join Cadre’s board and contribute to a leading business with such an important, life-saving mission. In collaboration with the Company’s leadership and my fellow board members, I look forward to helping Cadre enhance its market positions and accelerate growth.”

About Cadre
Headquartered in Jacksonville, Florida, Cadre is a global leader in the manufacturing and distribution of safety products. 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, duty gear and nuclear safety products. 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 are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this release, include, but are not limited to, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250113456067/en/

Contact:

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 Contact:

Jonathan Keehner / Andrew Siegel

Joele Frank, Wilkinson Brimmer Katcher

212 355 4449

Source: Cadre Holdings, Inc.

FAQ

When will Gianmaria Delzanno join CDRE's board of directors?

Gianmaria Delzanno will join Cadre Holdings' board of directors effective January 13, 2025.

What positions will Delzanno hold on CDRE's board committees?

Delzanno will serve as lead independent director, Chairman of the Nominating and Corporate Governance Committee, and member of both the Audit Committee and Compensation Committee.

How long did Nicholas Sokolow serve on CDRE's board before retirement?

Nicholas Sokolow served on Cadre's predecessor board for approximately 12 years, having joined in July 2012.

What is Gianmaria Delzanno's relevant experience for CDRE's board position?

Delzanno has over 40 years of experience in M&A, corporate financing, and private equity, including roles at Delzanno & Co. Inc., Schroder Wertheim & Co., and S.G. Warburg & Co.

How does Delzanno's appointment align with CDRE's strategy?

Delzanno's extensive M&A experience aligns with Cadre's strategy of pursuing inorganic growth opportunities through acquisitions.