Houlihan Lokey Advises Alpha Safety Intermediate

Houlihan Lokey is pleased to announce that Alpha Safety Intermediate, LLC (Alpha Safety), a portfolio company of Benford Capital Partners (BCP), has been acquired by Cadre Holdings, Inc. (Cadre). The transaction closed on March 1, 2024.

Founded in 1986, Alpha Safety is a global provider of highly engineered, technical products and services focused on radiation protection and safety in mission-critical operating environments. It offers a diversified suite of capabilities, including ventilation and containment, engineered containers, field services and maintenance, advanced transportation containers, specialty filters, and radiometric instrumentation. Alpha Safety has 40-plus years of entrenched relationships with key environmental safety, national security, and nuclear energy customers, who rely upon the company’s proprietary products and services to protect critical operational personnel and the environment. With 29 patents, strict regulation and compliance protocols, and significant IP moats, Alpha Safety maintains a protected market position due to the technical nature of its products.

Founded in 2004, BCP is a Chicago-based private equity firm focused on buying and building leading lower-middle-market companies in partnership with founders and management. Since its inception, BCP has acquired more than 45 companies and currently owns 17 platform companies. BCP’s industry areas of focus include industrial technology, food and consumer products, agricultural products and services, and B2B e-commerce.

Headquartered 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. Cadre’s highly engineered products are utilized in more than 100 countries by federal, state, and local law enforcement, fire and rescue professionals, explosive ordnance disposal teams, and emergency medical technicians.

Houlihan Lokey served as the exclusive financial advisor to Alpha Safety and assisted in structuring and negotiating the transaction on its behalf. Within its global Industrials Group, Houlihan Lokey’s Aerospace and Defense practices have earned a reputation for working with sector leaders, providing superior client service, and delivering outstanding results. This transaction highlights Houlihan Lokey’s continued success in advising engineered products and specialty services businesses, supporting key missions of the Department of Energy and the Department of Defense.