M&A Deal Summary

Cadre Holdings Acquires ICOR Technology

On December 22, 2023, Cadre Holdings acquired safety/security company ICOR Technology

Acquisition Highlights
  • This is Cadre Holdings’ 1st transaction in the Safety/Security sector.
  • This is Cadre Holdings’ 1st transaction in Canada.
  • This is Cadre Holdings’ 1st transaction in Ontario.

M&A Deal Summary
Date 2023-12-22
Target ICOR Technology
Sector Safety/Security
Buyer(s) Cadre Holdings
Deal Type Add-on Acquisition

Target

ICOR Technology

Ottawa, Ontario, Canada
ICOR Technology is a manufacturer and distributor of explosive ordnance disposal (“EOD”) robots and specialized protective security equipment for EOD and military organizations worldwide, including SWAT and Chemical, Biological, Radiological, Nuclear, and high-yield Explosives (CBRNE) teams. ICOR was founded in 2005 and is based in Ottawa, Ontario.

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Buyer(S) 1

Buyer

Cadre Holdings

Jacksonville, Florida, United States
Category Company
Founded 1964
Sector Safety/Security
Employees2,435
Revenue 482M USD (2023)
DESCRIPTION

Cadre Holdings manufactures and distributes 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 by domestic and international first responders in state and local law enforcement, fire and rescue, explosive ordnance disposal, emergency medical technicians, as well as numerous federal agencies and foreign government agencies in 104 countries. Cadre Holdings was founded in 1964 and is based in Jacksonville, Florida.

DEAL STATS #
Overall 3 of 4
Sector (Safety/Security) 1 of 2
Type (Add-on Acquisition) 2 of 3
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-03 Cyalume

West Springfield, Massachusetts, United States

Cyalume is a designer, developer, and producer of extremely reliable chemical and electronic lights for safety and security applications. Cyalume’s products provide sources of light in emergency situations and for general safety purposes. Cyalume was founded in 1997 and is based in West Springfield, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-20 Alpha Safety

Golden, Colorado, United States

Alpha Safety is a global provider of highly engineered, technical products and services focused on radiation protection and safety in mission-critical operating environments. It offers a diversified suite of capabilities, including ventilation and containment, engineered containers, field services and maintenance, advanced transportation containers, specialty filters, and radiometric instrumentation. Alpha Safety was formed in 1986 and is based in Golden, Colorado.

Buy $107M
Mergr

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