A maker of body armor, holsters, and duty gear for police, first responders, and the military, Cadre Holdings sells brands including Safariland and Protech Tactical. Its roots trace to 1964, when Neale Perkins built a custom holster for his father in a garage in Sierra Madre, California, and named the company Safariland after the African safaris they shared. Safariland later brought the first commercially available soft body armor for law enforcement to market in the 1970s.
Cadre Holdings' Canadian subsidiaries closed a CDN$20.0M revolving credit facility with PNC Canada.
On July 23, 2026, Med-Eng Holdings ULC, Pacific Safety Products Inc., ICOR Technology Inc., and TYR Tactical Canada ULC, as borrowers, and Safariland, LLC, as guarantor, closed a revolving line of credit with PNC Bank Canada Branch.
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The facility allows borrowings up to CDN$20.0 million, including up to CDN$6.0 million for letters of credit, and matures on December 20, 2029.
Borrowings can be in U.S. or Canadian dollars, with interest rates based on base rate, SOFR, Canadian Prime Rate, or CORRA, plus an applicable margin ranging from 0.50% to 2.50% per annum depending on the rate type and the company's leverage ratio.
The agreement amends and restates the prior Canadian loan agreement from October 14, 2021, and includes customary covenants, events of default, and an unused line fee between 0.175% and 0.25% per annum.
The credit facility is guaranteed by Safariland, LLC under an Amended and Restated Guaranty and Suretyship Agreement.
1.01 Entry into a Material Definitive Agreement · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 9.01 Financial Statements and Exhibits
Cadre Holdings directors Delzanno and DeCotis depart after 2026 annual meeting
The decision not to nominate them was not due to any disagreement with the company on operations, policies, or practices.
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Gianmaria C. Delzanno and Deborah A. DeCotis' terms as directors expired at the May 29, 2026 annual meeting; they were not nominated for re-election.
Stockholders elected five directors: Warren B. Kanders, William Quigley, Hamish Norton, Nicholas Sokolow, and Mary Kissel.
Stockholders ratified KPMG LLP as independent registered public accounting firm for fiscal year ending December 31, 2026.
Approximately 94.41% of outstanding shares (40,406,208 of 42,797,451) were present or represented at the meeting.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 5.07 Submission of Matters to a Vote of Security Holders
Cadre Holdings reports Q4 and full-year 2025 results; net sales of $610.3M, net income of $44.1M, and record adjusted EBITDA.
Fourth quarter 2025 net sales were $167.2 million, down from $176.0 million in Q4 2024, primarily due to higher prior-year shipments from a cyber incident.
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Full-year 2025 net sales were $610.3 million, up from $567.6 million in 2024, driven by acquisitions and higher duty gear demand.
Full-year 2025 net income was $44.1 million ($1.02 per diluted share), compared to $36.1 million in 2024.
Full-year 2025 adjusted EBITDA was $111.7 million (18.3% margin), a record for the third consecutive year.
For 2026, the company expects net sales of $736-$758 million and adjusted EBITDA of $136-$141 million.
The company completed the acquisition of TYR Tactical on January 30, 2026, and increased its quarterly dividend to $0.10 per share.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Cadre Holdings to acquire TYR Tactical group for $145M plus earn-out
Cadre Holdings, through subsidiary Safariland, agreed to buy all equity of TYR Tactical, Dominus, and RG Beck AZ Sub from RG Beck AZ, Inc.
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The aggregate purchase price is $145 million: $130 million in cash (subject to working capital adjustments) and $15 million in Cadre common stock and restricted stock units.
Seller may earn up to $25 million in additional contingent earn-out payments based on net revenue targets for 2026-2028.
Closing is expected on the later of January 5, 2026, or the third business day after conditions are met, with a termination date of January 31, 2026 (extendable to March 31, 2026).
As a closing condition, Cadre will also acquire real property in Peoria, Arizona for $30 million ($20 million cash and $10 million in unregistered common stock).
1.01 Entry into a Material Definitive Agreement · 9.01 Financial Statements and Exhibits
Cadre Holdings to acquire TYR Tactical for $175M in cash and stock.
Cadre Holdings, Inc. entered a definitive agreement to acquire TYR Tactical for total consideration of $175 million, comprising $150 million in cash and $25 million in Cadre common stock.
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TYR Tactical is a leading manufacturer of mission-critical personal protective equipment and tactical gear for military and law enforcement, headquartered in Peoria, Arizona, with facilities in Texas, Canada, and Denmark.
TYR Tactical generated $93 million in revenue in FY2024 and is expected to be immediately accretive to earnings and adjusted EBITDA margins.
The acquisition provides Cadre with a significant entry into new markets, particularly European military and defense, and adds a portfolio of 80+ patents and 59 registered trademarks.
The disclosure was furnished under Item 7.01 Regulation FD, with the slide presentation attached as Exhibit 99.1, and is not deemed filed for SEC liability purposes.
7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits