Cadre Holdings to Acquire Safariland
Ticker: CDRE · Form: 8-K · Filed: Jul 19, 2024 · CIK: 1860543
| Field | Detail |
|---|---|
| Company | Cadre Holdings, INC. (CDRE) |
| Form Type | 8-K |
| Filed Date | Jul 19, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, m&a, growth
TL;DR
Cadre Holdings is buying Safariland, deal expected to close Q3 2024 and boost earnings.
AI Summary
Cadre Holdings, Inc. announced on July 15, 2024, that it has entered into a definitive agreement to acquire substantially all of the assets of Safariland, LLC. The transaction is expected to close in the third quarter of 2024, subject to customary closing conditions. This acquisition is anticipated to be accretive to Cadre's adjusted EBITDA per share in the first full year post-closing.
Why It Matters
This significant acquisition by Cadre Holdings aims to expand its market presence and is projected to boost its financial performance, potentially impacting investor confidence and its stock value.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and failure to achieve expected synergies, which could negatively impact Cadre Holdings' financial performance.
Key Numbers
- Q3 2024 — Expected Closing Quarter (The acquisition of Safariland is anticipated to be completed during this period.)
Key Players & Entities
- Cadre Holdings, Inc. (company) — Registrant
- Safariland, LLC (company) — Acquisition Target
- July 15, 2024 (date) — Date of earliest event reported
- third quarter of 2024 (date) — Expected closing period for acquisition
FAQ
What is the primary purpose of this 8-K filing?
This 8-K filing is to report on the definitive agreement entered into by Cadre Holdings, Inc. to acquire substantially all of the assets of Safariland, LLC.
When is the acquisition of Safariland expected to close?
The acquisition is expected to close in the third quarter of 2024, subject to customary closing conditions.
What is the expected financial impact of the Safariland acquisition on Cadre Holdings?
The acquisition is anticipated to be accretive to Cadre's adjusted EBITDA per share in the first full year post-closing.
What is the name of the company being acquired by Cadre Holdings?
Cadre Holdings, Inc. is acquiring substantially all of the assets of Safariland, LLC.
What is the date of the earliest event reported in this filing?
The date of the earliest event reported is July 15, 2024.
Filing Stats: 645 words · 3 min read · ~2 pages · Grade level 15.4 · Accepted 2024-07-19 16:19:51
Filing Documents
- tm2419841d1_8k.htm (8-K) — 24KB
- 0001104659-24-081176.txt ( ) — 194KB
- cdre-20240715.xsd (EX-101.SCH) — 3KB
- cdre-20240715_lab.xml (EX-101.LAB) — 33KB
- cdre-20240715_pre.xml (EX-101.PRE) — 22KB
- tm2419841d1_8k_htm.xml (XML) — 4KB
01 Other Items
Item 8.01 Other Items. On July 15, 2024, Cadre Holdings, Inc. (the "Company") determined that the Company had experienced a cybersecurity incident in which an unauthorized third party gained access to certain technology systems of the Company. Following detection of the incident with its security tools, the Company immediately initiated its standard response protocols to contain, assess and remediate the incident, including beginning an investigation with outside experts, activating its incident response plan, notifying federal law enforcement, and taking certain systems offline in an abundance of caution. The Company's investigation and response remains ongoing. The Company is in the early stages of its investigation and assessment of this incident, and therefore the full scope, nature and impact of the incident has not yet been determined. Although certain of the Company's operations have been affected, the Company is unable to determine at this time whether the incident has had or is reasonably likely to have a material impact on the Company's financial condition or results of operations.
Forward-Looking Statements
Forward-Looking Statements This Current Report on Form 8-K contains forward-looking the cybersecurity incident and its anticipated impact on the Company's business, operations and financial results. Factors that could cause actual results to differ from those expressed in these forward-looking statements include the ongoing assessment of the cybersecurity incident; legal, reputational and financial risks resulting from the cybersecurity incident or additional cybersecurity incidents; and the risks described in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and subsequent Quarterly Reports on Form 10-Q. Unless required by law, the Company expressly disclaims any obligation to update publicly any forward-looking statements, whether as result of new information, future events or otherwise.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: July 19, 2024 CADRE HOLDINGS, INC. By: /s/ Blaine Browers Name: Blaine Browers Title: Chief Financial Officer