secwatch.observer — SEC 8-K summary
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Issuer:     LAKELAND INDUSTRIES INC (LAKE)
CIK:        0000798081
Form:       8-K
Filed at:   2024-12-16T23:59:59+00:00
Accession:  0001654954-24-015596
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lakeland Industries acquires Veridian for $25M; expands fire services
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- Acquired Veridian for ~$25M cash, funded via credit facility; adds ~$21M annual revenue and 150 employees.
- Veridian designs and manufactures firefighter protective apparel including garments, gloves, and boots.
- Credit facility amended: revolving line increased to $60M through Jan 2026, maturity extended to Dec 2029.
- Acquisition expected to be immediately accretive; strengthens U.S. manufacturing and cross-sell opportunities.
- Veridian's former owner Bill Van Lent remains as president of the business post-close.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/798081/000165495424015596/0001654954-24-015596-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/798081/000165495424015596/lake_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-015596

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