Platinum Equity announced the completion of the acquisition of Pelican Products. Pelican designs and manufactures high performance protective cases and rugged equipment for professionals and outdoor enthusiasts, as well as temperature-controlled supply chain solutions for the healthcare industry.
Financial terms were not disclosed.
Pelican operates in two main segments: Pelican Products designs and manufactures high performance hard protective cases, advanced portable lighting systems and outdoor consumer products for the highly resilient government, commercial and consumer markets. Peli BioThermal offers a comprehensive portfolio of passive temperature controlled package solutions for high growth clinical trials and commercial biopharmaceutical markets.
“Over more than four decades, Pelican has established a strong brand, inspiring strong loyalty from some of the world’s most demanding customers,” said Jacob Kotzubei, Platinum Equity Partner. “We are very excited about the company’s potential to build on this heritage and further expand its reach. We have a lot to do operationally, both in terms of capital investment and intellectual investment in terms of new product innovation, more efficient manufacturing, and improving the marketing effort. Marlet.
Headquartered in Torrance, Calif., Pelican has 11 manufacturing sites, 19 service centers and network stations, and 23 international sales offices in 27 countries
“The Pelican brand is well known for its commitment to durability, safety and superior product performance and innovation,” said Matthew Louie, Managing Director of Platinum Equity. “In our opinion, this is the gold standard of the protective case industry and this is solidified and supported by strong brand value. We look forward to working with the company’s leadership team and deploying our operational and M&A resources to support Pelican’s next phase of growth and expansion.
Pelican CEO Phil Gyori will continue to lead the business after the transaction
“The entire Pelican team is excited about our new partnership with Platinum Equity, as they have an impressive track record of helping companies maximize their potential,” said Mr. Gyori. “Platinum will provide a fresh perspective on our business, along with the specialist expertise and resources necessary to fuel our growth and expand our strong collection of products and services. “
Gibson Dunn & Crutcher LLP acted as legal counsel and Willkie Farr & Gallagher LLP provided debt financing advice to Platinum Equity for the Pelican acquisition. BofA Securities was the primary underwriter for the debt financing.
Credit Suisse acted as exclusive financial advisor and Latham & Watkins LLP as legal advisor to Pelican Products.
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