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Cadre Holdings to use cash, may tap revolver to buy ICOR Technology
Chicago, Dec. 22 – Cadre Holdings, Inc. announced that it will be acquiring ICOR Technology Inc. in a press release on Friday.
ICOR generated approximately C$26 million in revenues in the fiscal year ended July 31, 2023.
Cadre said that it will use cash on the company’s balance sheet and possibly a draw on its existing undrawn revolving credit facility to fund the acquisition.
The transaction is anticipated to close in the first quarter of 2023.
Based in Jacksonville, Fla., Cadre is a global manufacturer and distributor of safety and survivability products for first responders. ICOR is a manufacturer and distributor of explosive ordnance disposal robots and specialized protective security equipment based in Ottawa, Ont.
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