Commitment to Continued Investment in Innovation
Platinum Equity – a global investment firm with over $25 billion in assets under management and a portfolio of some 50 operating companies – announced signature of a definitive agreement to acquire Pelican Products, headquartered in Torrance, CA, on 19 October. The financial terms of the transaction, which is expected to complete by Q4/2021, have not been disclosed.
Pelican manufactures a range of high-performance protective cases that have found ready markets in the defence and security markets, among others. It also provides temperature-controlled supply chain solutions for the medical and healthcare industries.
“For more than 45 years, Pelican has built a powerful brand with a well-earned reputation among its demanding and loyal customers for making some of the most indestructible products in the world,” observed Platinum Equity Partner, Jacob Kotzubei. “We are committed to building on the company’s rich heritage and investing in continued innovation.”
“With a global manufacturing footprint and broad distribution network, Pelican is an outstanding platform for acquisitive growth with substantial opportunity in both its core markets and adjacent categories,” added Platinum Equity Managing Director Matthew Louie.
Pelican CEO Phil Gyori will continue to lead the company following the transaction. “As we move forward with the backing of Platinum Equity, I’m confident Pelican’s growth trajectory will remain strong, and our products and services will expand to meet the needs of our diverse customer base,” he stated.