Announced
Financials
Sources
Tags
Single Bidder
Canada
explosive ordnance disposal robots
safety equipment
specialized protective security equipment
Security Equipment
Acquisition
Majority
Pending
Private
Friendly
Cross Border
Synopsis
Cadre Holdings, a provider of safety and survivability equipment, agreed to acquire ICOR Technology, a manufacturer and distributor of explosive ordnance disposal robots and specialized protective security equipment. Financial terms were not disclosed. ''We are pleased to enter into the Agreement to acquire ICOR, meeting our established M&A criteria. With a leading market position, high margins, compelling macroeconomic trends, and resiliency through cycles, ICOR is an ideal add-on to Cadre’s EOD business. Importantly, the addition of ICOR will meaningfully expand our ability to provide mission-critical EOD robots to law enforcement agencies and military organizations, which is an area that we are intimately familiar and supported by anticipated strengthening tailwinds. Taking advantage of Cadre’s scale and extensive sales channels, we expect to further penetrate ICOR’s key markets and look forward to partnering with the team there to capitalize on these growth opportunities,'' Warren B. Kanders, Cadre Chairman and CEO.
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