Cadre Holdings, Inc. (NYSE:CDRE) entered into a definitive agreement to acquire Alpha Safety Intermediate, LLC for approximately $110 million on February 16, 2024. As part of the consideration, $106.5 million was paid towards common equity. The transaction subject to the satisfaction of customary closing conditions, and is expected to be funded through available cash on the Company?s balance sheet and an increase in term debt under its existing credit facility.

Alpha Safety reported a revenue of $44 million for FY2023. The transaction is anticipated to close in the first quarter of 2024, subject to the satisfaction of customary closing conditions. Houlihan Lokey acted as financial advisor to Alpha Safety.

Carl Marcellino, Regina Sam Penti, Matt Jones, Tristan Evans-Wilent and Stephanie Bruce of Ropes & Gray acted as legal advisors to Cadre Holdings in the transaction. Alex Plakas and Drew Rosenberry of DLA Piper LLP (US) acted as legal advisor to Benford Capital Partners Management, L.P.