Platinum Equity has announced that the acquisition of Pelican Products has been completed. Pelican is a global leader in the design and manufacture of high-performance protective cases and rugged gear for professionals and outdoor enthusiasts, and temperature-controlled supply chain solutions for the healthcare industry. Financial terms were not disclosed.
Pelican operates in two primary segments: Pelican Products designs and manufactures high-performance rigid protective cases, advanced portable lighting systems, and outdoor consumer products for highly resilient government, commercial and consumer markets. Peli BioThermal provides a comprehensive portfolio of passive temperature-controlled parcel solutions for high-growth clinical trials and commercial biopharma markets.
“Headquartered in Torrance, CA, Pelican maintains 11 manufacturing sites, 19 service centers and network stations, and 23 international sales offices across 27 countries. Pelican CEO Phil Gyori will continue to lead the company following the transaction.
Gibson Dunn & Crutcher LLP served as legal counsel and Willkie Farr & Gallagher LLP provided debt financing counsel to Platinum Equity on the Pelican acquisition. BofA Securities was the lead underwriter for the debt financing. Credit Suisse served as exclusive financial advisor and Latham & Watkins LLP served as legal counsel to Pelican Products.