Cadre Holdings Completes Acquisition of Cyalume Technologies

Rhea-AI Summary

Cadre Holdings, Inc. (NYSE: CDRE) has completed its acquisition of Cyalume Technologies for $35 million, expected to be immediately accretive. The purchase has been funded through available cash and credit facilities. Cyalume's management will remain with the business post-acquisition. Cadre is a leading manufacturer of safety and survivability products for first responders, providing essential equipment used by emergency professionals globally.

Positive

• Acquisition of Cyalume Technologies for $35 million expected to be immediately accretive.
• Cyalume's existing management will remain, ensuring continuity.
• Strengthens Cadre's position in the safety equipment market.

Negative

• Acquisition integration risks may impact future performance.
• Potential material differences in expected and actual financial results from the acquisition.

JACKSONVILLE, Fla.--(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, today announced the completion of the Company’s previously announced acquisition of Cyalume Technologies. The acquisition is expected to be immediately accretive, and Cyalume’s current management team will remain with the business.

The purchase price for the acquisition was $35.0 million, subject to customary adjustments for net working capital, transaction expenses and indebtedness, and was funded through available cash on the Company’s balance sheet and a draw on its existing credit facilities.

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
Except for historical information, certain matters discussed in this press release may be forward-looking statements within the meaning 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 projections or forward-looking statements, including without limitation global economic conditions, spending patterns of government agencies, competitive pressures, the impact of acquisitions and related integration activities, product liability claims, the success of new product introductions, currency exchange rate fluctuations, the risks of doing business in the markets in which we operate, including foreign countries, the Cyalume business may not be integrated successfully with Cadre, material differences in the actual financial results of the Cyalume acquisition as compared with expectations, including the impact of the acquisition on Cadre’s future earnings per share, and the Company’s ability to declare a dividend. More information on potential factors that could affect the Company’s financial results are more fully described from time to time in the Company’s public reports filed with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and 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/20220505005320/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

Source: Cadre Holdings, Inc.

FAQ

What is the acquisition value of Cyalume Technologies by Cadre Holdings?

Cadre Holdings acquired Cyalume Technologies for $35 million.

When did Cadre Holdings complete the acquisition of Cyalume Technologies?

The acquisition was completed recently, as announced in the press release.

How will the acquisition of Cyalume Technologies impact Cadre Holdings?

The acquisition is expected to be immediately accretive to Cadre's earnings.

Will Cyalume's management stay after the acquisition?

Yes, Cyalume's current management team will remain with the business.

What are the risks associated with the acquisition of Cyalume Technologies?

Integration risks and potential discrepancies in anticipated financial results are key concerns.