WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Palm Beach Capital Fund III, L.P. (“PBC”), through one of its investment entities, announced today that it has fully exited its investment in Cadre Holdings, Inc. (NYSE: CDRE) (“Cadre” or “the Company”) and realized proceeds equal to 9.3 times its invested capital. Cadre is a global leader in the manufacturing and distribution of safety and survivability equipment for first responders, federal agencies and outdoor enthusiasts.
PBC completed its initial investment in the Company in 2012 when it partnered with Kanders & Co., Inc in a corporate divestiture from BAE Systems PLC. During the term of the partnership, Cadre grew via thirteen acquisitions which allowed the Company to broaden product lines, expand the customer base and build out a global footprint. The Company completed its successful IPO in November of 2021.
“We would like to sincerely thank the entire leadership team at Cadre for their vision and attention to detail in building the Company into a scalable global platform protecting and serving our first responders,” said Nate Ward, PBC Co-Founder and Managing Partner. “We are very proud of the Company’s growth during our investment period, which is a testament to the strength and quality of the people, products, and brands at Cadre. We wish this exceptional Company and management team continued success in the years to come.”
With headquarters in Jacksonville, Florida, Cadre is a global leader in the manufacturing and distribution of safety and survivability products for first responders. Cadre's equipment provides critical protection to allow users to safely and securely perform their duties and protect those around them in hazardous or life-threatening situations. The Company's core products include body armor, explosive ordnance disposal equipment and duty gear. The highly engineered products are utilized in over 100 countries by federal, state and local law enforcement, fire and rescue professionals, explosive ordnance disposal teams, and emergency medical technicians. Key brands include Safariland® and Med-Eng®, amongst others.
About Palm Beach Capital
Founded in 2001, Palm Beach Capital is a middle market private equity investment firm based in West Palm Beach, Florida. Currently investing out of its fifth committed fund, the firm focuses on high growth investment opportunities and partners with management teams in management buyouts, recapitalizations and growth equity investments. Since its inception, Palm Beach Capital has made investments in 54 platform portfolio companies, with a focus on the business services, healthcare, and transportation and logistics sectors. For more information, please visit the firm's website at www.pbcap.com.