March 4, 2024

Benford Capital Partners Exits Alpha Safety

Benford Capital Partners (“Benford Capital” or “BCP”) is pleased to announce the successful sale of Alpha Safety (“Alpha” or the “Company”), an industry leading nuclear safety products and services platform, to Cadre Holdings Inc. (NYSE: CDRE).  The transaction closed on March 1, 2024.

Over the course of BCP’s investment, and in partnership with CEO Terry Wickland, COO/VP of Finance Mike Cornelius, and EVP of Strategy and Business Development Marc Rood, the Company approximately tripled revenue in just over 2.5 years.  BCP worked with management to build out the executive bench, streamline manufacturing operations, enhance the commercial strategy, and execute and integrate two successful add-on acquisitions, Stewart Precision Machining (September 2021) and Pajarito Scientific Corporation (March 2023).

Founded in 1986, Alpha Safety is a global provider of highly engineered products and technical 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+ year 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.

Terry Wickland, who will continue to lead the Company, said, “Benford Capital was a great partner throughout our journey together. We were seeking a firm with experience growing and scaling entrepreneurial businesses in partnership with management.  Their guidance, dedicated operating partners, and steadfast support enabled us to realize our shared vision for expanding Alpha.”

Edward Benford, Managing Director at Benford Capital, stated, “Alpha Safety is a great example of BCP’s ability to grow specialized industrial technology companies in partnership with management. We enjoyed working closely with Terry, Mike, and Marc to invest in the Company’s infrastructure and expand its range of products and services. We are proud of the team’s achievements and look forward to Alpha’s continued success with Cadre.”

Houlihan Lokey served as the exclusive financial advisor to Alpha Safety; DLA Piper served as legal counsel. Learn more about Alpha Safety at


Founded in 2004, Benford Capital is a Chicago-based private equity firm focused on buying and building leading lower middle market companies in partnership with founders and management. Since inception, Benford Capital has acquired 50 companies and currently owns 15 platform companies. BCP’s industry areas of focus include industrial technology, consumer products and food, B2B e-commerce, and agricultural products and services. BCP is currently investing from its $200 million Fund II and has approximately $350 million of total capital under management. For more information, please visit:

For additional information about this transaction, please contact Edward Benford (, Brian Behm ( or Brian Staff (