Cadre Holdings, Inc. closed its acquisition of TYR Tactical, LLC on February 2 2026, paying $120 million in cash and $25 million in Cadre equity—$24 million in common stock and $1 million in restricted‑stock‑unit awards—to TYR shareholders. The deal also includes a $30 million purchase of real property from a TYR affiliate, expanding Cadre’s manufacturing footprint in the United States.
The transaction adds $92.6 million of annual revenue to Cadre’s top line and brings world‑class engineering capabilities that include advanced hard‑armor fabrication technology. Management expects the acquisition to be immediately accretive to earnings and adjusted EBITDA margins, positioning Cadre to capture higher‑margin tactical and nuclear safety opportunities while deepening its integrated distribution model across its Safariland and Med‑Eng brands.
Cadre’s CEO, Warren Kanders, said the deal extends the company’s reach into the European defense market and enhances cross‑sell opportunities with law‑enforcement agencies. “TYR’s product portfolio and engineering expertise complement our existing brands and give us a stronger foothold in high‑margin segments,” he noted. The acquisition also provides Cadre with a $25 million earn‑out contingent on 2026‑2028 revenue targets, underscoring confidence in the combined entity’s growth prospects.
The initial definitive agreement announced on October 29 2025 valued the transaction at $175 million, comprising $150 million in cash and $25 million in Cadre stock. The closing announcement revised the cash component to $120 million and the equity component to $25 million, reflecting adjustments made during the due‑diligence period. The revised purchase price of $145 million—$120 million cash plus $25 million equity—provides a clearer picture of Cadre’s capital allocation and the value Cadre is willing to pay for strategic assets.
The acquisition aligns with Cadre’s platform transformation strategy, which has seen the company deploy over $400 million in M&A over the past 24 months. By integrating TYR’s tactical gear with Cadre’s existing product lines, the company aims to increase share of wallet among law‑enforcement customers and accelerate growth in its high‑margin verticals.
The deal also includes a $30 million real‑estate purchase, adding a new manufacturing facility that will support the expanded product line and provide Cadre with additional capacity for future growth. The combined entity will benefit from synergies in procurement, distribution, and engineering, which are expected to drive cost efficiencies and margin expansion.
Management highlighted that the acquisition is expected to be accretive to earnings immediately, citing strong demand for tactical gear and the ability to leverage Cadre’s distribution network. The company’s guidance for the remainder of 2026 remains unchanged, but the addition of TYR’s revenue stream is expected to support Cadre’s revenue growth targets and reinforce its competitive position in the defense and safety equipment market.
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