PLATINUM EQUITY COMPLETES THE ACQUISITION OF PELICAN PRODUCTS
LOS ANGELES, December 31, 2021 / PRNewswire / – Platinum Equity today announced the completion of the acquisition of Pelican Products. Pelican is a global leader in the design and manufacture of high performance protective cases and rugged equipment for professionals and outdoor enthusiasts, as well as temperature-controlled supply chain solutions for the clothing industry. health.
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 capital investment and in intellectual investment in terms of new product innovation, more efficient manufacturing and improving the time-to-market effort. “
Based at Torrance, California, 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 the CEO of Platinum Equity. Matthew Louie. “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 in support of Pelican’s next phase of growth and expansion. “
CEO of Pelican Phil gyori will continue to run 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 acquisition of Pelican. 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.
About platinum stocks
Founded in 1995 by Tom Gorès, Platinum Equity is a global investment firm with more than $ 25 billion assets under management and a wallet approximately 50 operating companies serving clients around the world. The company is currently investing Platinum Equity Capital Partners V, a 10 billion dollars global buyout fund, and Platinum Small Cap Equity Fund, a $ 1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and transactions – a branding strategy she calls M&A & O® – acquire and operate companies in a wide range of business markets including manufacturing, distribution, transportation and logistics, equipment rental, metals related services, media and entertainment, technology, telecommunications and other industries. Over the past 25 years, Platinum Equity has made over 300 acquisitions.
About Pelican Products
Pelican Products, Inc. is the global leader in the design and manufacture of high performance protective cases, temperature controlled packaging solutions, advanced portable lighting systems and rugged equipment for professionals and consumers. outdoor enthusiasts. Their products are used by professionals in the most demanding markets including fire safety, law enforcement, defense / military, aerospace, life sciences, industry, entertainment and on many foreign markets. Pelican ™ products are designed and manufactured to last a lifetime. The company is present in 27 countries, with 23 international sales offices and eleven manufacturing sites around the world. In Europe, the company operates under the name of Peli Products, S.LU. and the division, which manufactures temperature-controlled packaging for the healthcare industry, operates worldwide under the Peli BioThermal brand. For more information visit www.pelican.com.
Dan Whelan, Platinum Action
Sharon Quarter, Pelican Products
SOURCE Platinum Actions