Cyalume Technologies' light sticks can be used to mark the location of landmines. (Cyalume Technologies)
US-based protective equipment provider Cadre Holdings plans to expand its defence portfolio by acquiring chemical lighting manufacturer Cyalume Technologies, Cadre announced on 3 May.
Cyalume's light sticks can be used in various combat and training scenarios, such as marking helicopter landing zones, identifying friendly personnel and vehicles, and marking landmines for removal.
Cadre has agreed to pay USD35 million for Cyalume, which has been owned by US private equity firm Arsenal Capital Partners since 2017. The transaction is expected to close in May.
Cyalume, whose customers include US and allied armed forces, estimates it will generate about USD25 million in revenue in 2022. Its management team plans to remain with the West Springfield, Massachusetts-based business after the acquisition closes.
While Cadre mainly serves first responders, it has several military products of its own, including explosive ordnance disposal equipment provided through its Med-Eng subsidiary, and holsters sold under the Safariland brand. Based in Jacksonville, Florida, Cadre became a publicly held company in November 2021, and generated net sales of USD427.3 million and net income of USD12.7 million in 2021.
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