Platinum Equity has completed its acquisition of Pelican Products, a global designer and manufacturer of high-performance protective cases and rugged gear for professionals and outdoor enthusiasts and temperature-controlled supply chain services for the healthcare industry. The deal was initially announced October 20, 2021.
Pelican operates two segments including Pelican Products and Peli BioThermal. Pelican Products focuses on the designing and manufacturing of protective cases, portable lighting systems and outdoor consumer products for government, commercial and consumer markets. Its Peli BioThermal segment focuses on a portfolio of passive temperature-controlled parcel services for clinical trials and commercial biopharma markets.
“The Pelican brand is well known for its commitment to durability, safety, and superior product performance and innovation,” said Platinum Equity managing director Matthew Louie. “In our view, it’s the gold standard of the protective case industry and that’s solidified and supported by a strong brand equity. We look forward to working with the company’s management team and deploying our operational and M&A resources in support of the next phase of Pelican’s growth and expansion.”
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.