Peoria’s homegrown body-armor maker TYR Tactical is cashing out in a big way. The company has been acquired by Cadre Holdings in a deal that values TYR and its facilities at about $175 million, a sizable exit for the West Valley manufacturer. TYR will now sit under Cadre’s Safariland business, which means the Peoria operation’s plate-carrier and armor production will roll up into a larger public-safety portfolio.
Cadre detailed the purchase in a Cadre Holdings release, saying the price includes $120 million in cash and $24 million of Cadre common stock, plus $1 million in restricted stock units for certain TYR employees. On top of that, Cadre separately bought Peoria real estate tied to the deal for $30 million. The company said it financed the transaction with available cash and borrowings under its senior credit facility and that the acquisition is expected to be immediately accretive to earnings and adjusted EBITDA margins.
Deal Structure And The Earn-out
Cadre’s public filings and the securities purchase agreement show the transaction was built around an equity purchase paired with a concurrent real-estate acquisition. The seller is also in line for as much as $25 million in contingent earn-out payments if net-revenue targets are hit through 2028. The nuts and bolts of the arrangement are laid out in Cadre’s Form 8-K with the U.S. Securities and Exchange Commission, and local outlets picked up coverage of the closing, including reporting by KTAR News.
Tyr’s Peoria Footprint
TYR lists its headquarters at 9330 N. 91st Ave. in Peoria and produces plate carriers, vests, hard armor, shields and tactical accessories for law-enforcement and military customers, according to TYR Tactical. In its disclosures, Cadre put TYR’s revenue at roughly $92.6 million for the year ended Dec. 31, 2024, a scale that the buyer said makes the business an immediately accretive fit for its public-safety portfolio.
What It Means For Peoria
TYR was founded by Jason and Jane Beck, and Jason Beck also happens to be the mayor of Peoria, a dual role that has stirred plenty of civic and political interest around the sale. Local leaders and workers will be watching closely to see whether Cadre keeps jobs at the Peoria campus and whether the new owner chooses to pump additional capital into the site. Beck’s overlapping roles as founder and mayor have been noted in local coverage and public appearances, including a profile at AZ PBS.
What Comes Next
Executives at Cadre and TYR are expected to map out an integration plan that taps TYR’s engineering and manufacturing strengths alongside Cadre’s existing brands, including Safariland. Industry coverage has highlighted TYR’s autoclave and pressing technologies and its female-specific armor designs as complementary pieces of the Cadre puzzle. Analysts say the acquisition deepens Cadre’s tactical-armor capabilities and extends its international customer reach. For more reaction from inside the tactical-gear world, see reporting at Soldier Systems Daily.
