Cadre Close Acquisition of Nuclear Engineering Units From UK-Based Carr Group, Keeps Dividend Steady
Cadre has completed a £75 million ($100 million) acquisition of two engineering subsidiaries from Carr's Group, enhancing its nuclear power equipment portfolio. The deal was funded through incremental term debt from an amended credit facility. Additionally, Cadre declared a quarterly dividend of $0.095 per share, consistent with the previous quarter, payable on May 16 to shareholders of record on May 2.
Cadre late Tuesday said it has completed its 75 million British-pound ($100 million) cash purchase of two engineering subsidiaries previously owned by London-listed Carr's Group, expanding Cadre's nuclear power equipment offerings.
The companies disclosed the transaction, which did not include Carr's Chirton Engineering unit, on Jan. 16. Cadre Tuesday said it funded the deal using incremental term debt available through its credit facility amended in December.
Separately, Cadre Tuesday night declared a quarterly dividend of $0.095 per share, unchanged from the prior quarter and payable May 16 to shareholders of record on May 2.
