Cadre to acquire multiple leading nuclear brands

Cadre (CDRE) Holdings “announced it has entered into a definitive agreement to acquire Carr’s Engineering Limited and Carr’s Engineering, Inc., each a subsidiary of Carr’s Group plc, for an enterprise value of GBP 75 million payable in cash at completion. The Engineering Division is comprised of industry-leading brands including Walischmiller GmbH, CarrsMSM, Bendalls Engineering, NW Total Engineered Solutions, and NuVision Engineering, Inc. With sites in the United Kingdom, Germany and the United States, the Engineering Division designs, manufactures and services equipment, vessels, precision components and remote handling systems for nuclear end-markets. The brands within the Engineering Division are highly complementary to Cadre’s nuclear safety business and, upon closing, will both expand the Company’s presence in international markets and provide entry into new product categories within the nuclear market segment. The Engineering Division generated approximately GBP 51 million in revenues for the fiscal year ended August 31, 2024. Current leadership teams are expected to remain with the businesses.”