Cadre Holdings closes $175M acquisition of Peoria body armor maker

Florida-based Cadre Holdings Inc. has closed its $175 million acquisition of Peoria-based TYR Tactical, which was originally announced in October.

The deal closed Jan. 30, one day after an amendment to the securities purchase agreement was filed by Cadre Holdings (NYSE: CDRE). Cadre acquired TYR Tactical through subsidiary Safariland LLC, which manufactures tactical gear such as body armor and tactical accessories for law enforcement, military and security professionals.

Per the document, TYR Tactical — which makes body armor and has customers in 40 countries — had a purchase price of $145 million. That sale price included $120 million in cash and $25 million of Cadre’s common stock.

Adding to the total acquisition price, two Peoria buildings were also acquired as part of the deal in a $30 million transaction that closed Jan. 30, according to Tempe-based real estate database Vizzda LLC. The 110,403-square-foot industrial flex building is located on 7.9 acres of industrial land at the northeast corner of Loop 101 and Olive Avenue. The property was valued at $3,797,468.35 per acre, according to Vizzda.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story. 

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