Cadre Holdings, a prominent company in the safety and survivability equipment industry, has announced its acquisition of ICOR Technology, a leading manufacturer and distributor of explosive ordnance disposal robots.
ICOR Technology specializes in providing essential protection to law enforcement agencies, allowing them to safely carry out their duties in hazardous and life-threatening situations. Their products have gained recognition for their reliability and effectiveness.
Although specific financial details were not disclosed, the agreement is set to be finalized within the first quarter of 2023. This strategic acquisition aligns with Cadre’s vision to expand its reach and strengthen its presence in key markets.
ICOR Technology achieved impressive results in the fiscal year that ended on July 31, with a remarkable revenue of approximately $26 million. With Cadre’s scale and extensive sales channels, ICOR Technology’s market penetration is expected to experience further growth.
Warren Kanders, Chairman and Chief Executive of Cadre Holdings, expressed excitement about this partnership. He highlighted the potential for collaboration with ICOR Technology’s team to capitalize on new opportunities and drive mutual success.