Paul Hastings Advises Cadre Holdings on Safariland’s Section 363 Acquisition of Assets From Tedder Industries

Paul Hastings LLP advised Cadre Holdings, parent company of Safariland, in connection with Safariland’s purchase of certain assets from Tedder Industries through a court-supervised bankruptcy auction and sale. Safariland completed its acquisition of substantially all of Tedder’s assets (including the recognized holster brand Alien Gear) through a court-approved sale conducted under Section 363 of the Bankruptcy Code in Tedder’s Chapter 11 bankruptcy case. 

The transaction followed a marketing process overseen by the bankruptcy court in which Safariland was the stalking horse bidder and an auction in which Safariland emerged as the successful bidder. The sale was authorized by the bankruptcy court’s entry of a sale order finding that, among other things, Safariland acted in good faith and the transaction represented the highest and best offer for the purchased assets. Pursuant to the terms of the asset purchase agreement, Safariland acquired Tedder’s operating assets free and clear of liens, claims, encumbrances and other interests, except as expressly assumed.

Financial Restructuring Group co-chair Jayme Goldstein and partners Josh Ratner and Isaac Sasson led the Paul Hastings team, which included partners Jason Ertel, Sarah Gagan and Gary Silber, of counsel Daniel Ginsberg and Matt Snyder, and associates Josh Troper, Steph Lao, Colin Wetmore, Leonie Koch and Zane Rashdan.

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