Cadre Holdings, a global leader in the manufacturing and distribution of safety equipment and other related products for the law enforcement, first responder, military and nuclear markets, closed a new credit agreement that provides senior secured credit facilities of up to $590 million and matures in five years. PNC Bank is the administrative agent and left-lead arranger. Bank of America, Regions Bank, US Bank and Bank of Montreal acted as Joint Lead Arrangers on the Credit Facilities. Additional lenders are Wells Fargo, SouthState Bank and EverBank.

The financing consists of a five-year undrawn revolving credit facility of $175 million, a five-year term loan facility of $225 million, as well as two delayed draw term loans of up to $115 million and $75 million, respectively (collectively, the “Credit Facilities”). The revolving credit facility and $225 million term loan are expected to be used for working capital and general corporate purposes, as well as to refinance existing outstanding debt. Subject to the conditions contained in the Credit Facilities, the $115 million delayed draw term loan is available to the Company for six months from the closing of the facilities to support current acquisition activity, while the $75 million delayed draw term facility is available to the Company for eighteen months from the closing to support future opportunities. The $75 million delayed draw term facility is also available for general corporate purposes. Combined with the approximately $93.0 million of cash and cash equivalents as of September 30, 2024, this provides Cadre with approximately $458.0 million of capital to pursue its growth objectives.