Cadre Holdings Sets Sights on Nuclear Brands with Carrs Engineering Acquisition Agreement
Deal News | Jan 16, 2025 | Ropes & Gray
Cadre Holdings, Inc., a key player in safety equipment manufacturing and distribution for sectors including nuclear, has entered into a definitive agreement to acquire Carrs Engineering Limited and Carr's Engineering (US), Inc., subsidiaries of Carrs Group plc, for an enterprise value of 75 million, to be paid in cash at the completion of the transaction. The acquired businesses specialize in designing and manufacturing equipment for nuclear markets, enhancing Cadre's global footprint and product portfolio, particularly in the nuclear safety segment. The completion of this acquisition is expected in the first half of 2025, pending customary closing conditions. Ropes & Gray, led by a team of experts, advised Cadre Holdings, guiding the transaction through complex legal and financial landscapes.
Sectors
- Safety Equipment Manufacturing
- Nuclear Engineering
- Private Equity and Legal Advisory
Geography
- United States – Cadre Holdings is based in the United States and expanding its nuclear market presence internationally with this acquisition.
- United Kingdom – Carrs Engineering Limited operates from the UK, playing a critical role in the acquisition deal.
- Germany – Wlischmiller GmbH, part of the Engineering Division being acquired, is located in Germany, indicating the international reach of the transaction.
Industry
- Safety Equipment Manufacturing – Cadre Holdings operates in the safety equipment manufacturing industry, producing equipment for law enforcement, military, and nuclear sectors.
- Nuclear Engineering – The Engineering Division of Carrs Group plc, being acquired by Cadre Holdings, specializes in nuclear engineering, offering services and products related to the nuclear sector.
- Private Equity and Legal Advisory – Ropes & Gray's involvement as advisors in this transaction places the deal within the realm of private equity and legal advisory industries.
Financials
- 75 million – Enterprise value of the acquisition deal to be paid in cash.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cadre Holdings, Inc. | Buyer | Company | A leading global manufacturer and distributor of safety equipment for law enforcement, military, and nuclear markets. |
| Carrs Engineering Limited | Target | Company | A subsidiary of Carrs Group plc, specializing in equipment and systems for nuclear markets. |
| Carrs Engineering (US), Inc. | Target | Company | U.S. subsidiary of Carrs Group plc, part of the Engineering Division being acquired. |
| Carrs Group plc | Seller | Company | Holding company selling the Engineering Division to Cadre Holdings. |
| Ropes & Gray | Legal Advisor | Company | Provided legal advisory services for Cadre Holdings in this transaction. |