Behrman Capital, a private equity investment firm based in New York, has reached a definitive agreement to sell its portfolio company Pelican Products, Inc.(the Company), including the Peli BioThermal division, to Platinum Equity.
Headquartered in Torrance, California, Pelican Products is a global manufacturer of highly engineered protective cases and lighting products for a wide variety of consumer, commercial, industrial, bio-pharmaceutical, and government end markets. Its Peli BioThermal division offers the widest range of temperature-controlled, thermally-protected packaging and service solutions to the global life sciences industry. Over its 45-year history, the Company has established its market leadership with a comprehensive portfolio of high-value, mission-critical solutions for every kind of use, as well as a deep commitment to providing customers around the world with quality products and services.
Grant Behrman, Managing Partner of Behrman Capital, says: “Pelican has been an exceptional investment for Behrman, and we are very proud of our role in driving the Company’s industry leadership and value creation story. Under our 17 years of ownership, Pelican has completed numerous strategic acquisitions, pioneered innovative new products including temperature-controlled packaging solutions, and expanded its footprint globally. We commend Phil and the team for their excellent work leading Pelican’s expansion efforts and have every confidence the Company is poised for continued success.”
Phil Gyori, President and CEO of Pelican Products, says: “We are very grateful to Behrman Capital for their support and partnership since their initial investment in 2004. The Behrman team’s expertise and resources have been invaluable as Pelican has pursued our strategy to be the global leading protection solutions company. We believe Pelican today is well positioned to drive profitable growth for the benefit of our team and customers around the world, and we look forward to embarking on this next chapter of growth under Platinum’s ownership.”
